Category Archives: Bookkeeping

That said, most states don’t allow for deductions when calculating sales tax, and hence, sellers should turn to gross sales to calculate sales tax. This ensures that all sales are taxed, regardless of any deductions that may occur later. The method you choose to calculate sales tax depends on the state sales tax laws and […]

Creditor vs Debtor is an important part of the said, forming an important part of the company’s liquidity position. A credit policy is made with specific reference to the credit period received/allowed and the amount received/given on credit so the company can properly plan its credit cycle. It is important to have a robust credit […]

Float-adjusted market cap is meant to give an even more accurate picture of how the market views and values a company’s stock. Market cap is a metric that makes it easier to understand a company’s financial scope. It allows investors to size up a company based on how valuable the public perceives it to be. […]

A step cost occurs when a variable or fixed cost crosses the boundary of the relevant range, making it jump up suddenly. As defined earlier, the relevant range is a term used to describe the range of activity (units of production in this example) for which cost behavior patterns are likely to be accurate. The […]

The Business category is where you’ll find invoicing, bills to pay, purchase orders, and products and services. The invoices option in Xero displays a nice summary view of all invoices and their current status. Xero’s low starting price and built-in inventory tracking make it suitable for freelancers and small businesses. Meanwhile, QuickBooks’ comprehensive features are […]

Essentially, they highlight the level of cost a company needs to make to generate revenue, which is ultimately the main goal of any business. When a business doesn’t successfully track its operating expenses, it can end up losing money on spending oversights. Diligent accounting of operating expenses keeps profits on growth for continued success. For […]

In this example the supplier is giving up 2% of the invoice amount in order to be paid 20 days early. It is a common phrase used to describe an interest rate. Often “per annum” is omitted, as in “I have a 4% mortgage loan.” or “This debit note vs credit note whats the difference […]

The franchisor needs individuals to operate each franchise location. For each location, the franchisor sells the rights to the franchise to individuals. “Yet, the experience here is unique plus we have the unparalleled opportunity to see the former NBA stars.” The prospect of a Mexican franchise and more regular season games is exciting for local […]

Select your product below to explore product help, discover frequently asked questions, and connect with our support team. In this demonstration you’ll explore the processes for MyTaxInfo, and see how it can make the collection of tax information from taxpayers easier and more reliable. Tackle the most complex tax returns, such as multitiered consolidated return processing […]

Having the right manufacturing accounting process can efficiently break down all of the operational costs within your company. This will result in you having better insights into what everything costs to manufacture and how much you should charge for the items you’re making. This will help to identify opportunities to improve efficiencies companywide, drive revenue […]