Category: Bookkeeping

If the management at a later date decides to decrease the balance in the petty cash account, the previous entry would be reversed, with cash being debited and petty cash being credited. Recording and tracking your petty cash and credit card spending with the same software will mean that all expenses are centralised under one […]

Understanding each company’s size, sector, and goal is pertinent to interpreting its ratio. For the example above, company A is a well-established, stable company. Someone on our team will connect you with a financial professional in our network holding the correct designation and expertise. This team of experts helps Finance Strategists maintain the highest level […]

These expenses can include raw materials, labour, equipment, rent, and marketing costs. In simple terms, it is the sum of all expenses necessary to produce and sell a product or service. The average cost is determined by the total cost of one unit in your production line. You can calculate the average cost by figuring […]

In the end, it does not guarantee absolute, but it tries to bring decision makers to the right decision that can be taken regarding a loan request as much as possible. Conducting this analysis relies on information; the more accurate this information is, the more precise the results are. From the lender’s point of view, […]

A bank may only do this in the first or second instance or take a part of the fee off, but it’s better than nothing. Thankfully, banks generally offer a variety of ways to keep tabs when managing your checking account. •   Regular monitoring helps detect unauthorized transactions and keep track of spending. Consider reviewing […]

Common examples of assets leased through operating leases include office space, vehicles, equipment, and machinery. Operating leases are prevalent in industries where frequent upgrades or changes in technology are common, such as technology, transportation, and healthcare. Present value refers to the total value of unpaid lease payments over the course of the lease term. For […]

The last step is making sure both your employees and the appropriate government agencies are paid on time correctly. The next step is to calculate net pay by taking the gross pay amount and subtracting deductions. If you’ve received court orders for wage garnishments, consider using payroll software with garnishment management services to stay in […]

In today’s increasingly complex business landscape, you face a gauntlet of technical accounting, tax, and financial reporting issues. Successful management and resolution of these matters is essential sandp 500 historical annual returns to keep moving toward your business objectives. EY refers to the global organization, and may refer to one or more, of the member […]

This statement reflects profits and asset equation losses that are themselves determined by the calculations that make up the basic accounting equation. In other words, this equation allows businesses to determine revenue as well as prepare a statement of retained earnings. This then allows them to predict future profit trends and adjust business practices accordingly. […]

Sage has many help options to get you through it, including excellent online help. Premium Accounting, which I used for testing, starts at $96.58 per month for a single user and goes up to $222.25 per month for five users. Quantum Accounting starts at $152.42 per month for one user; a five-user subscription costs $301.08 […]