Categoria: Bookkeeping

With this integrated feature, you can set up a central terminal or allow your employees to clock in and out right from their mobile devices. For this example, we’ve calculated that our employee works 2,000 out of the total 2,080 hours annually. Later in Part 6 we timmy o’neill will discuss what to do with…

Gross profit margin is a financial metric analysts use to assess a company’s financial health. Such businesses aim to cover their fixed costs and have a reasonable return on equity by achieving a larger gross profit margin from a smaller sales base. Net sales consider both Cash and Credit Sales, on the other hand, gross…

Contra Asset Account – A contra asset account is an asset that carries a credit balance and is used to decrease the balance of another asset on the balance. These deductions, which come in the form of sales returns, allowances, and discounts, are not expenses but adjustments that lower the total sales on your income…

Examples of variable costs include costs of raw materials, direct labor and utility costs like electricity or gas that increase with greater production. The numerical calculations behind average cost, average variable cost, and marginal cost will change from firm to firm. However, the general patterns of these curves, and the relationships and economic intuition behind…

For more detailed instructions, head to our tutorial on how to receive payments in QuickBooks Online. Once done, click Save and close, and your received payment will automatically be reflected in the Undeposited Funds account. When you receive a paper check or cash for payment of an invoice, click on the + New button at…

When several professional accountants are working together in one office, they are often inspired to grow and learn in their own careers, staying up to date on the latest laws and regulations. They will also be able to speak with colleagues and ask for advice if difficult or unusual situations arise in their accounting tasks.…

Local installations are billed annually, while hosted solutions are billed monthly. QuickBooks allows you to keep track of financial functions like income and expenses, employee expenses and inventory in real time and fulfill tax obligations hassle-free. When you are free of financial worries, you can focus on driving business growth and revenue. With QuickBooks, it…

If the company realizes a level of activity of more than 3,000 units, a profit will result; if less, a loss will be incurred. The actual calculation of contribution margin may be more laborious but the concept applies. A good contribution margin is all relative, depending on the nature of the company, its expense structure,…

If you’re hiring across borders, you’ll have to recruit in-house accountants in all the countries you’re onboarding in. This can be costly and complex, especially if you don’t have legal entities in those countries. The amount of work you have available may not justify hiring one in-house, even on a part-time basis. Our team of…

In addition, if the company uses several sets of books for its subsidiaries, the results of each subsidiary must first be transferred to the books of the parent company and all intercompany transactions eliminated. If the subsidiaries also use their own subledgers, then their subledgers must be closed out before what is managerial accounting the…