Bookkeeping

In a perpetual system, the inventory account changes with every transaction. Companies debit their inventory account with the cost of the merchandise each time they…

If you’re a freelancer or a service business that doesn’t need inventory management or payroll-related features, Wave Accounting may be a good option for you.…

The contribution margin measures how much money each additional sale contributes to a company’s profits. Business owners generally use the contribution margin ratio on a…

If both conditions are met, a company must accrue the estimated loss and disclose the relevant information in the financial statements. With IAS 371, IFRS…

Whether you call it the accounting equation, the accounting formula, the balance sheet equation, the fundamental accounting equation, or the basic accounting equation, they all…

On the other hand, a higher DSO can indicate potential cash flow problems and inefficiencies in the collection process. Regular monitoring and analysis of these…

A more refined calculation adjusts the numerator and denominator for shares that could be created through options, convertible debt, or warrants. The numerator of the…

Generally in the cash receipts journal to debit columns for cash receipts and cash discount and three credit columns for accounts receivable, sales and other…

If errors are found, corrections can be made directly in the organizer, with the option to refresh the return to reflect the changes. Those using…

You can also have far more flexibility with your employees if you allow them to work remotely. This enables you to streamline your whole business…