While you can’t predict everything about running a company, a clear view of working capital can help you operate smoothly today — and set you up for long-term growth tomorrow. Although many factors may affect the size of your working capital line of credit, a rule of thumb is that it shouldn’t exceed 10% of … Devamını oku…
When looking at your financial reports, we recommend always starting with a collapsed view, to get a high-level understanding of your business performance. After that, you can drill down into subaccounts to see what is really driving the results you are seeing at a high level. One advantage of using parent accounts is that you … Devamını oku…
This is an owner’s equity account and as such you would expect a credit balance. Other examples include (1) the allowance for doubtful accounts, (2) discount on bonds payable, (3) sales returns and allowances, and (4) sales discounts. The contra accounts cause a reduction in the amounts reported. Owners can increase their ownership share by … Devamını oku…
If the cost isn’t traceable and allocable to products and services, this cost is a period cost. Period costs are essential to business operations but don’t directly affect the final products. To continue our bakery example, let’s say the ultimate guide to pricing strategies we’re hiring an external bookkeeper to do the books. Managing mixed … Devamını oku…
Discover how strong cash forecasting bridges your company’s daily treasury operations with its long-term financial strategy. Discover how a well-structured tech stack can enhance your treasury operations, improve financial management, drive strategic decisions and eliminate the hidden costs of tech debt. Imagine you’re a shoe retailer that sells men, women and children’s shoes. Over three … Devamını oku…
Alright, just to correct that for in case anyone was looking at that, and like I didn’t spell it right. In other words, on an accrual basis, we got to break this thing out between the short term and long term portion. So a couple things we need to do, we got to consider whether … Devamını oku…
Bookkeeping is a crucial service that helps businesses keep track of their financial and maintain accurate records. Our professional bookkeeping service ensures that your financial records are up-to-date and, giving you peace of mind and allowing you to focus on growing your business. Keeping accurate books is a task that many business owners despise, despite … Devamını oku…
You shouldn’t have to wait days for an accountant to return your call. Your Xendoo team will respond right away—like we’re there in your Fort Lauderdale office with you. Monthly fees can range from as low as $100 to $500 or more, depending on the level of service and customization required. Each competency has five … Devamını oku…
We’ll tackle some of the most commonly asked questions during tax season. Then, we’ll give you a rundown on the difference between standard and itemized deductions. We’ll also highlight some of the most common deductions you’ll want to have on your radar. If you operate a small business as a sole proprietor, you must incorporate … Devamını oku…
Jai is paid ₹ 1,000 per month to lease a tiny location at the local shopping mall. He typically spends the equivalent of ₹200 per month on utility bills. Learn how to prepare a nonprofit statement of functional expenses with our guide on key categories, preparation steps, and common mistakes to avoid. Recording the expense … Devamını oku…