Category: Bookkeeping

Social media can grow your business audience in a more affordable way than you ever could with traditional media. It’s also a great place to support and interact with your existing clients. Explore the apps that were the most popular among US-based small businesses xero bookkeeping using Xero in 2024. Xero adapts to the needs… Continue reading Accounting Software for Small Businesses

In this case, the actual hours worked per box are 0.20, the standard hours per box are 0.10, and the standard rate per hour is $8.00. This is an unfavorable outcome because the actual hours worked were more than the standard hours expected per box. As a result of this unfavorable outcome information, the company… Continue reading Direct Labor Variances Formula, Types, Calculation, Examples

This skill will help you avoid problems like obsolete inventory and excess storage costs. The accounting of goods in transit shows whether the seller or buyer owns the goods and who paid the shipping costs. There is usually an agreement (shipping terms) between the seller and the buyer on who records these goods in their… Continue reading Transit Inventory in Inventory Management: A Comprehensive Guide

The final stage of the true-up process entails comprehensive documentation and reporting of the findings, adjustments, and reconciliation outcomes. This involves preparing detailed reports, memos, or presentations that encapsulate the true-up process, its findings, and its implications for financial reporting. As the name suggests, true-ups sync financial statements with reality, ensuring that they accurately reflect… Continue reading What is a True-up Entry With Examples

Their hard work, technical skills, and dedication are critical to maintaining the infrastructure and services that we all depend on. EasySource stands ready to support employers in hiring and retaining these invaluable workers, ensuring a strong and capable workforce for the future. Blue-collar workers remain indispensable, driving innovation and maintaining the infrastructure that supports our… Continue reading White Collar vs Blue Collar Meaning & Difference

The other half of the profits are considered retained earnings because this is the amount of earnings the company kept or retained. If the retained earnings balance is gradually accumulating in size, this demonstrates a track record of profitability (and a more optimistic outlook). The articles and research support materials available on this site are… Continue reading What Is a Statement of Retained Earnings? What It Includes

The first guitar was purchased in January for $40.The second guitar was bought in February for $50.The third guitar was acquired in March for $60. On the other hand, Periodic inventory systems are used to reverse engineer the value of ending inventory. Perpetual inventory systems are also known as continuous inventory systems because they sequentially… Continue reading What Is the FIFO Inventory Method? First-In, First-Out Explained

On the other hand, low SG & A expenses indicate that a company is operating more efficiently and has a lower cost structure, which is a positive indicator of future profitability. What is the definition of selling, general and administrative expenses? More specifically, the SG&A expense include all sorts of expenses that a company makes to support… Continue reading The Complete Guide to Understanding SG&A

Content Start your bookkeeping practice with confidence. Ways Bookkeeping Can Help Your Startup Business Business structure What are your accounting services? Starting a bookkeeping business – but have no qualifications? How will you decide on the level of fees to charge? Starting a bookkeeping business – How much can I charge? Setting up your own… Continue reading Professional Bookkeeping Services Online Bookkeeping Services

Content Tips for Writing Effective Payment Terms Is it beneficial to offer customers a discount? Net 30 Terms: Good Or Bad For Your Business? Business Trade Credit Approval Customer-Level Change Net 30 payment terms are one of the most popular ways suppliers charge clients due to the number of benefits they offer. Net 30 payment… Continue reading Literary Terms: Definition and Examples of Literary Terms