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Category : Bookkeeping

15 Apr 2020

Understanding Variable Cost Vs Fixed Cost

As we discussed previously, because payroll is one of the largest expenses of a company, the direct labor costs will have a substantial impact on the expenses of creating the caramels. For this reason, it is vital that direct costs are calculated and added to the COGS . Well, for starters, indirect labor, includes employees who are not directly involved in the production of goods and/or services. While they do support the production process, they do not actually help in […]

24 Mar 2020

Experience With Vic Ai

Join 5,000+ People Getting Remote Jobs Bench will even prepare your tax paperwork for you, simply leaving the filing up to you, your CPA, or your tax professional. Of our top five picks, inDinero is the only one to have added a list of COVID-19 resources—which we see as a huge help for prospective customers who need a bookkeeping boost in these odd economic times. Once you’re signed up, you’ll log into Merritt’s simple, easy-to-use interface. Connect your accounts, and […]

20 Feb 2020

Advantages And Disadvantages Of Accounting

Quickbooks Enterprise Pricing When you transfer your assets into the account, FutureAdvisor works to consolidate them into accounts with its partners, Fidelity or TD Ameritrade. Choose the financial goals that are most important to you, then add your bank accounts and set your income. Customer Reviews: Quicken Vs Quickbooks What are the classification of expenses in accounting? Here’s 10 reasons why you should be using QuickBooks. You save time on bookkeeping and paperwork because many of simple bookkeeping tasks are […]

27 Jan 2020

S Corp Retained Earnings

Nonetheless, you can post prior period adjustments in the current period’s retained earnings account to correct the errors. retained earnings statement This entry decreases revenue and retained earnings to reflect the correct financial position of the business. The dividend payment is reported on the balance sheet and reduces the amount in your retained earnings account. The Income Statement is one of a company’s core financial statements that shows their profit and loss over a period of time. A business pays […]

21 Jan 2020

What Is Unearned Revenue? A Definition and Examples for Small Businesses

What Is Unearned Revenue? A Definition and Examples for Small Businesses What is an Account Receivable? The basic premise behind using the liability method for reporting unearned sales is that the amount is yet to be earned and till that time the business should report the unearned revenue as a liability. Hence, $ 1000 of unearned income will be recognized as service revenue. Service revenue will, in turn, affect the Profit and Loss account in theShareholders Equity section. Upon providing […]

24 Dec 2019
11 Dec 2019

Classified Statement Vs Non Classified Accounting

This account may or may not be lumped together with the above account, Current Debt. While they may seem similar, the current portion of long-term debt is specifically the portion due within this year of a piece of debt that has a maturity of more than one year. For example, if a company takes on a bank loan to be paid off in 5-years, this account will include the portion of that loan due in the next year. The current […]

21 Oct 2019

Online Bookkeeping Services for Small Businesses

Online Bookkeeping Services for Small Businesses At the end of each month, your bookkeepers will review/close your books by phone or video chat and deliver custom reports. Our Team of Experts can help you Convert your Accounting Data into QuickBooks Online without any loss. For nearly 25 years Online Accounting has worked with businesses nationwide to set up efficient accounting systems, consulting and training, and preparation of federal and state tax returns. They work with QuickBooks in a secure cloud […]

16 Aug 2019

Debits and credits — AccountingTools

Debits and credits may be derived from the fundamental accounting equation. Two entries are made in each balanced transaction, a debit and a credit. This allows the accounts to be balanced to check for entry or transaction recording errors. Similarly, expenses during the financial period are recorded using the respective Expense accounts, which are also transferred to the revenue statement account. The net positive or negative balance (profit or loss) of the revenue statement account is transferred to reserves or […]

05 Jun 2019

SAP Accounting Software

QuickBooks Premier: Best for Businesses in Niche Industries Popular with freelancers and those who are self employed, Freshbooks was originally created as an invoicing program, but now bills itself as small business accounting software. Though it’s not as robust as some other programs (it doesn’t offer payroll, for example), it may be a great solution for solopreneurs or small businesses that don’t need all those functions. It integrates with a variety of third-party apps such as Shopify and Stripe. Though […]