Bookkeeping

This necessitates project-specific accounting methods, where revenues, costs, and cash flows are tracked separately for each project to ensure profitability. Cash flow is the lifeblood of any [...]

Receipts are important for businesses as they help to maintain accurate financial records, and they are writing a receipt crucial for customers as they provide evidence of a purchase. Whether you [...]

Under cash basis accounting, revenue is reported on the income statement only when cash is received. The cash method is typically used by small businesses and for personal finances. [...]

You can then use these line items to adjust your financial strategies or business plans accordingly. Many analysts look at free cash flow to determine the true profitability of a business. Free [...]

Whenever cash is paid out, the Cash account is credited (and another account is debited). A T-account is used in bookkeeping, which involves keeping track of the financial transactions that occur [...]

This means they are taking blockchain more seriously and that it might be a good idea for you to as well. It’ll eliminate mundane jobs like reconciliation transaction data and having to put [...]

The applied overhead is then calculated by multiplying the predetermined rate by the actual number of allocation base units used in the production process. Added to these issues is the nature of [...]

The latter will be a portion of your accrued payroll; the former was already accounted for in gross pay. It’s smart to keep a close eye on the payroll expenses  that have accrued over a [...]

The higher the quick ratio, the more financially stable a company tends to be, as you can use ‌the quick ratio for better business decision-making. Marketable securities, are usually free from [...]

It is replenished up to the fixed amount that was originally designated for the petty cash fund. Jane stops to pick up two boxes of donuts, leaving her with $5 in her wallet. Fortunately, her [...]