Category Archive

Whether QuickBooks Online is a better deal than QuickBooks Desktop depends on the needs of your business. QuickBooks Online can be a more cost-efficient option for businesses with multiple users that don’t want to navigate the steep learning curve of QuickBooks Desktop. However, QuickBooks Desktop may be the better value for businesses that want a locally installed software option with …

Furthermore, having timely and accurate information will open the door to proactive tax strategies you will not be aware of with a reactive accounting system. Technologies may include cloud-based options such as a hosted accounting file, automated bill paying process and workflow, as well as outsourced payroll processing. The old way of doing accounting is out the door; update to …

Your accounts payable function may have bills outstanding from 2015, sitting as owed to the vendors, when in fact they are current. The list of potential issues can go on and on, but making sure each account is reconciled is crucial to updating your accounting foundation and bringing integrity to the system. And remember, if you ever feel overwhelmed, partnering …

This is often the case with trading where margin is used (you are borrowing money to what does an auditor do trade). With compound interest, the interest you have earned over a period of time is calculatedand then credited back to your starting account balance. In the next compound period, interest is calculated on the total of the principal plus …

A financial professional will offer guidance based on the information provided and offer a no-obligation call to better understand your situation. Our writing and editorial staff are a team of experts holding advanced financial designations and have written for most major financial media publications. Our work has been directly cited by organizations including Entrepreneur, Business Insider, Investopedia, Forbes, CNBC, and …

In this guide, we’ll break down QuickBooks Online pricing, including plans, key features, and alternative platform costs so you can decide which option is best for you. Note, each QuickBooks Live offering requires an active QuickBooks Online subscription and additional terms, conditions, limitations and fees apply. For more information about services provided by Live Bookkeeping, refer to the QuickBooks Terms …

It is an expense and is reported on the income statement as part of the cost of sales. COGS represents the cost of the inventory that has been sold during a period and thus reduces a company’s profits. Average Cost assigns an average cost per unit based on all the purchases made during a given period of time. It simplifies …

Getting a feel for how much customers could owe the company on credit at the end of the year helps a company project sales, expenses and cash flow needs, among other financial metrics. The percentage of sales method definition refers to businesses’ forecasting tools to predict multiple liabilities, expenses, and assets based on their sales data. This forecasting model enables …

In addition to income tax, you may have sales tax, payroll tax, and franchise-specific taxes. Work with an accountant familiar with franchises to ensure you’re meeting all tax requirements. If you operate across state lines or in different regions, there may be additional complexities in tax laws, so consult a professional to avoid issues. Running a franchise presents a unique …

Some people will use “hundred,” rather than “thousand,” to read numbers between 1100 and 9999. This is especially true in American three financial statements English. British English is starting to use the same words as American English to describe the same huge sets of numbers. NEW! The CSE Manual: Scientific Style and Format, Ninth Edition Here, we’ll study the word …