Bookkeeping

Once they sell a product to the customer, companies can remove it from current liabilities. Usually, these funds come from two sources, including equity and debt. Equity finance is one of the most prominent finance sources for companies. For companies, on the other hand, it consists of share capital and other reserves. Tax liability, for […]

Content They make life easier for your vendors Can I use purchase orders to better manage my inventory levels? How? How Are Purchase Orders Different from Invoices? What is a Purchase Order (PO)? Place an order for goods or services While purchase orders appear necessary from a legal standpoint, invoices also provide much-needed clarity and

The allowance for doubtful accounts – often called a “bad debt reserve” – would be considered a contra asset since it causes the accounts receivable (A/R) balance to decline. For example, accumulated depreciation is a contra asset that reduces the value of a company’s fixed assets, resulting in net assets. A less common example of

Content Boundless Accounting Work in process inventory formula Ready to take your eCommerce business to new heights? What is included in work in progress inventory? What is work in process (WIP) inventory? Definition, formula and benefits Work-in-process inventory definition Work in Process Inventory vs Work in Progress Inventory In most cases, accountants consider the percentage

Content Accounting Methods Accrual basis Stay up to date on the latest accounting tips and training Want More Helpful Articles About Running a Business? Company A has been providing services to Client B for the past 3 years. Company A sells a website creation service to Company B costing $500. To learn more about the

Content How to Calculate Stockholders’ Equity for a Balance Sheet Problems with the Stockholders’ Equity Concept Key Terms ROE Formula How to Calculate Current Assets Ratio Total Equity: Formula and Examples Debt-to-Equity Ratio Formula ROAE takes into account this aspect into its calculation as opposed to ROE which only takes the end value of equity.

Content Tips for Effective Bookkeeping S Corporation Basic Bookkeeping Error-free tax filing The Effects of Revenue Recognition on Financial Statements What is the Most Important Bookkeeping Task for an S Corp? The Simple Concept of Basis for S Corporation Stock If the request is denied, the back-up section 444 election must be activated (if the

You can even setup online credit card payments via FreshBooks own payment system for clients so that you get paid quicker and get notification confirmation when customers have received and read your invoice. If your business accepts payments via third-party services such as PayPal or Shopify, QuickBooks also integrates with popular payment platforms so that

Content Understanding Successful-Efforts and Full-Cost Accounting Build a custom email digest by following topics, people, and firms published on JD Supra. In the News Accounting and Financial Reporting & Oil and Gas Accounting Conferences You focus on Production and Development expenses here, both of which may be linked to the company’s production in the first

However, there are other costs that you cannot directly identify with the production of final goods. Such costs are the supplementary costs that you incur to facilitate your production process. Remember, the goal is to have an accurate calculation of manufacturing overhead to make sound financial decisions for your company. These semi-variable manufacturing overhead costs