Category: Bookkeeping

Enforcing company-wide cost-saving policies around printing, travel, etc. further helps minimize overhead. You’ll master the key formulas, learn how to allocate costs properly across departments, see real-world examples, and discover best practices to control overhead expenses. This…

First, identify your fixed costs, which are expenses that do not change regardless of the number of downloads. Suppose your fixed costs include $10,000 for app development and $2,000 for marketing, totaling $12,000. Determine all fixed costs…

Another useful aspect of the cash flow statement is to compare operating cash flow to net income. This comparison measure how well a company is running its operations. The cash flow statement reflects the actual amount late fees and…

Benjamin Podraza holds a Bachelor of Science in accounting and a Master of Science in taxation from Arizona State University. He is a financial consultant that has provided advice to thousands of individuals and business owners for…

Looking at the extensive list above, it’s clear that a large portion of the United States doesn’t tax Social Security benefits. This is a major financial advantage for retirees, allowing them to stretch their income further. A…

For example, while performing an account reconciliation for a cash account, it may be noted that the general ledger balance is $500,000. Still, the supporting documentation (i.e., a bank statement) says the bank account has a balance…

Although there are chances for errors, they are avoidable. For example, the price per unit of a dining chair is $50. You’ve sold 4 chairs, making the total cost $200. Tips for Filling Out a Receipt Template…

See how different annuity choices can translate into stable, long-term income for your retirement years. The term “annuity due” means receiving the payment at the beginning of each period (e.g. monthly rent). Many accounting applications related to…

You cross reference the rows and columns to find your annuity’s present value. For example, a court settlement might entitle the recipient to $2,000 per month for 30 years, but the receiving party may be uncomfortable getting…

These are just a few of the HR functions accounting firms must provide to stay competitive in the talent game. If you would like to receive an email when new stories like this one are posted to…