Category: Bookkeeping

These produce or sell goods and services that are always in demand, like food and beverages, household products, and personal care products. It tells us how effective the company’s management has been in wringing profits from sales, and how much room the company has to withstand a downturn, fend off competition, and make mistakes. Corporate…

These produce or sell goods and services that are always in demand, like food and beverages, household products, and personal care products. It tells us how effective the company’s management has been in wringing profits from sales, and how much room the company has to withstand a downturn, fend off competition, and make mistakes. Corporate…

Your virtual bookkeeper categorizes your transactions and prepares financial statements for your business. Adding a virtual assistant bookkeeper to your financial processes can be tricky. This step involves reviewing your current processes to see where a virtual assistant fits best and training everyone to work well together. Financial transparency Belay’s team of experts presents complex…

When manufactured items are sold, their costs are removed from the Finished Goods inventory account and transferred to the Cost of Goods Sold expense account on the income statement. Cost of Goods Sold represents the amount a company paid for the total manufacturing cost formula managerial accounting manufactured items that it sold. Cost of Goods…

It shows that revenue sometimes increases, decreases, peaks, or plummets. This revenue source is not present in all months while merchandise licensing is consistent in almost all months. As a business owner, you can use this chart to analyze revenue not just as a whole but in different components. You can create a task for…

Accounts Payable (A/P) Contact is an important role in a business, managing all of the organizational reports related to accounts payable activities. As an A/P contact, you’ll be responsible for maintaining accurate records and processing payments to vendors as well as reconciling accounts with suppliers. Additionally, you’ll need to stay up-to-date on financial trends and…

Gains result from the sale of an asset (other than inventory). A gain is measured by the proceeds from the sale minus the amount shown on the company’s books. Since the gain is outside of the main activity of a business, it is reported as a nonoperating or other revenue on the company’s income statement.…

Learn about anti-discrimination laws, public policy exceptions, and strategies for navigating this flexible work arrangement. IAS 20 was issued in April 1983 and is applicable to annual periods beginning on or after 1 January 1984. The Department of Defense provides the military forces needed to deter war and ensure our nation’s security. Groundbreaking on these…

You can create a cushion known as a ‘bad debt reserve.‘ This financial safety net ensures that even if some customers don’t pay up, it won’t disrupt your business operations. Assume a company has 100 clients and believes there are 11 accounts that may go uncollected. Instead of applying percentages or weights, it may simply…

Tag things as you work to track events, projects, locations, and anything that matters. Run custom reports based on your tags for an instant view of insights that matter most to you. The software is very easy to use, even for people who do not have an accounting background. Another notable difference is QuickBooks Online…