Bookkeeping

In this case one balance sheet asset (cash), has been increased by 1,488 when the cash is banked. This usually happens when we make mathematical errors during the day of the sales. On the other hand, if the company has a cash shortage in the petty cash fund, it can make the journal entry with [...]

The difference between the expected and actual cost incurred on purchasing direct materials, expressed as a positive or negative value, evaluated in terms of currency. The material quantity variance is a subset of the quantity variance, since it only applies to materials (or, more accurately, direct materials) that are used in the production process. Reliable [...]

This starts at $650 per employee per month, but it’s significantly cheaper than establishing a new entity in a foreign country. Once you’ve found an international payroll service you like, running payroll is a matter of getting your payroll service’s software up and running. At that point, the process should be fairly similar to running [...]

Most people have an instinctive understanding of what a financial loss is; anytime you receive less for something than what you spent to acquire it, you have sustained a loss, explains AccountingCoach.com. However, it is important not to just recognize that a loss has occurred, but to be able to classify it and report it [...]

Some companies charge by the number of accounts you need them to manage, while other companies charge based on your company’s monthly expenses. Typically, the lower your expenses (and the fewer your accounting needs), the less you’ll be charged. And on the accounting software front, Bookkeeper360 syncs with both Xero and QuickBooks Online. However, Merritt [...]

For example, you can set up automatic workflows and backups for better efficiency and productivity. If you're a growing company, tracking employees' billable hours will also help because you can compare budgeted and actual working hours. If you have the QuickBooks Payments add-on, they can pay directly through the invoice, making it convenient. This lets [...]

This — in addition to a recent monthly pricing increase — lowered our score for QuickBooks Online pricing to 3.2/5. The Plus Plan is $45 per month for the first three months, then becomes $90 per month, and adds up to five users. It also has inventory management and gives you the ability to project [...]

At Lewis CPA, we’re committed to helping you and your business meet your financial goals. We provide your business with accounting and bookkeeping services in Chicago and nationwide. Are you confused by QuickBooks Online software? Do you want the ability to make good business decisions based on accurate numbers? A bookkeeper can help your business [...]

Both invoices and bills are records of a sale that indicate how much a customer owes a seller, and both are issued before a customer has made payment for the transaction. In retail and hospitality industries, bills are often issued to customers at the point of sale to request payment for goods or services rendered. [...]

Our build vs. buy calculator will help you to make the best possible decision for your business. Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. At the bottom of your spreadsheet for February, add this note, tracking changes to your balance. Cash management software can integrate [...]