Category: Bookkeeping

You may also need to attach statements and documents for this section. To determine the rate of amortization for an asset, we first determine the length of its useful life. When the useful life of an asset amortization of intangible assets changes mid-use, the opening book value is assumed to be a new cost. It…

The transaction is complete at the point of sale, keeping track of the financial status is easy, and there are fewer journal entries. A sales journal entry records a cash or credit sale to a customer. It does more than record the total money a business receives from the transaction. Sales journal entries should also…

If the company does not produce any mugs for the month, it still needs to pay $10,000 to rent the machine. But even if it produces one million mugs, its fixed cost remains the same. Calculating variable costs can be done by multiplying the quantity of output by the variable cost per unit of output.…

With a clear interface and features such as easy invoicing, expense tracking and timekeeping, users can navigate their financial tasks without a steep learning curve. The platform prioritizes simplicity, ensuring that even those with free bookkeeping software minimal accounting experience can maintain accurate and organized records. Accounting software helps small business owners track their financial…

But if your organization doesn’t fall within the industry categories for the discount, monday’s basic CRM tier is relatively still affordable. Capsule is a simple online CRM with powerful sales and relationship management tools. Capsule’s free version allows up to two users, 250 contacts and 50MB of storage space. Users can manage sales opportunities with…

Accounting consultants take many forms, including forensic auditing consultants who advise on the legal implications of various accounting situations, and accountants dealing in specialist fields such as architecture, horticulture, transport and tourism. If you’re a freelance accounting consultant you may find you’re interacting more personally with a range of smaller clients than if you were…

And you can read this article here if you’re not sure yet which countries you’re going to target. That article also includes a few countries that are better to be avoided when dropshipping. Here are the instructions for enabling sales tax in the United States, Canada, and the rest of the world. The following reference guide is for…

The final accounting component is to enter the credit for when you receive the remittance amount. Yes, you can and should negotiate the terms of receivables factoring including the repayment tenure, the discount rate, and the origination or factoring fee. Till now, you must be clear that AR factoring allows you to convert outstanding invoices…

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. Calculating annualized ROI can overcome this hurdle when comparing investment choices. Thus, even though the net dollar return was reduced by $450 on…