Bookkeeping

Direct materials, direct labor, and the cost of factory overhead are a few examples of product costs. Period cost examples include general and administrative expenses such as rent, office depreciation, office supplies, and utilities. By analogy, a manufacturer pours money into direct materials, direct labor, and manufacturing overhead. Product costs are often treated as inventory and …

Product cost vs period cost definitions, examples, differences Termscompared Read More »

The discount will increase bond interest expense when we record the semiannual interest payment. When a discounted bond is sold, the amount of the bond’s discount must be amortized to interest expense over the life of the bond. When using the effective interest method, the debit amount in the discount on bonds payable is moved …

Discount on bonds payable definition Read More »

The reconciliation process allows a business to understand its cash flow and manage its accounts payable and receivable. The Journal entry for bank reconciliation typically involves recording the adjustments that have been identified during reconciliation. It is a double-entry system, meaning that two entries are made to record the transaction correctly. This is a simple …

How to Do a Bank Reconciliation: Step-By-Step 2024 Read More »

It’s been a decent month and she’ll break even, but she wants to know what the following month might look like if sales increase by 10 percent. If your sales increase by 20 percent, you can expect your total sales value in the upcoming quarter or year to be $90,000. We’ll go through https://www.bookstime.com/ each …

What is the percentage-of-sales method? Read More »

They perform the preliminary functions needed in order for the accountant to do their job at the end of each period. Luckily, accounting and bookkeeping don’t have to be the business owner’s responsibility anymore. It’s becoming more and more common for businesses to outsource bookkeeping to take care of the pesky task of handling financial …

Outsourced Accounting Services for Business Growth & Firms QXAS USA Read More »

That allows the put buyer to sell 100 shares of Meta stock (META) at $180 per share until the option’s expiration date. The put position’s breakeven price is $180 minus the $4 premium, or $176. If the stock is trading above that price, then the benefit of the option has not exceeded its cost. Assume that an …

Break-Even Analysis: How to Calculate the Break-Even Point Read More »

However a principle-based approach is only successful when several pre-conditions are present—some technical, some mindset—which is the focus of this article. Also, if you are using the Rules-Based accounting method, you create a document that is legal and verified and can be explained almost to anyone by specifying each rule used at every point. These …

How Are Principles-Based and Rules-Based Accounting Different? Read More »

This is the person that’s handling some of the most important aspects of your business —your accounting and back office processes—so you want them to be a good match. Now that you know what we are, you don’t want just any QuickBooks ProAdvisor. Learn how to start a QuickBooks ProAdvisor certification course and become a certified …

Frequently Asked Questions about ProAdvisor training and certification Read More »

ADP Assist enhances HR productivity, aids decision-making with data-driven insights, and streamlines day-to-day tasks for practitioners, managers, employees and executives with simple, human-like conversations. It harnesses the power of ADP’s unparalleled data and expertise along with GenAI to simplify the world of adp tools work. ADP Assist builds on ADP’s current AI capabilities and is currently …

ADP® Assist with Generative AI Features Makes HCM Decisions Easy, Smart and Human Read More »

By offering HVAC accounting services, accounting firms can tap into a niche market with high demand for bookkeeping jobs and potential for growth. With the use of QuickBooks, these firms can efficiently manage their clients’ financials and provide accurate pricing. Furthermore, accurate HVAC accounting enables accounting firms to make informed financial decisions. With detailed records …

Accounting for HVAC Companies: Revenue CFOx Read More »