التصنيف: Bookkeeping

Bookkeeping can help you prepare a budget, check for tax compliance, evaluate your business performance and help you with decision-making. We bet you have thought about getting all of these operations in place for your business. That’s why most businesses use accounting software to make accounting much easier. Assets represent...

The single-step format is useful for getting a snapshot of your company’s profitability, and not much else, which is why it’s not as common as the multi-step income statement. But if you’re looking for a super simple financial report to calculate your company’s financial performance, single-step is the way to...

If the bank covers the transaction amount, it may charge an overdraft fee. The payee or merchant may also charge a separate returned check fee. If the returned check causes you to miss your payment due date, you may end up having to pay costly late fees, too. Late payments...

You will definitely want to calculate your labor budget before overall budgetary decisions are made. A periodical and systematic approach (for example, quarterly) will help you keep your finger on the labor costs of your company and prevent them from running away from you. Using that information, you need to...

If you have a seasonal business, take note of slow months throughout the year, as you need to project lower revenue during those months to plan accordingly. To create this statement, add up each month’s profits and subtract your expenses. Ideally, this would leave you with a positive number, indicating...

“Expert verified” means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Shaun Conrad is a Certified Public Accountant and CPA exam expert with...

“Expert verified” means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Shaun Conrad is a Certified Public Accountant and CPA exam expert with...

This is a big deal for any business because it helps them figure out how much money they can make after paying for the costs that change. Imagine you have a lemonade stand; the more lemonade you sell, the more sugar and cups you need. These are your variable costs...

Perpetual inventory systems differ from periodic inventory systems, in which a company must instead depend on regularly scheduled physical counts. The perpetual inventory system gives real-time updates and keeps a constant flow of inventory information available for decision-makers. With advancements in point-of-sale technologies, inventory is updated automatically and transferred into...

Treasury stock is the corporation’s own capital stock, either common or preferred, that has been issued and subsequently reacquired by the firm, but not canceled. The term "share capital" is often used to mean slightly different things depending on the context. When discussing the amount of money a company can...