Control accounts are meant to keep a company’s general ledger clean of details. They still need to have the correct financial information needed to prepare the company’s financial statements. Control accounts are clean entries that [...]
Storage costs refer to the cost of maintaining inventory storage systems. This can include recurring costs such as rent, utility, security, and employee wages. The business then has to bear the cost of processing a [...]
It is important to be selective in PEO vendors as we have experienced the headaches of constant billing issues especially if you are trying to capture cost by location. Despite its low score, FreshBooks is [...]
The purpose of the post-closing trial balance is to ensure the accuracy of the accounting records for a specific accounting period, typically a month, quarter or year. It is prepared after all adjusting entries have [...]
However, you also don’t want to pay more in taxes than is absolutely necessary. You neither want to understate nor overstate your business’s https://bookkeeping-reviews.com/ profitability. This is why choosing the inventory valuation method that is [...]
You may not deduct dues for personal or hobby clubs or groups, dues or memberships paid to country clubs, or dues for other recreational or social groups. Only those expenses that don't fit neatly into [...]
Fourlane has consultants certified in QuickBooks and other ERP software such as NetSuite and Acumatica. This custom rate can be applied to some or all customers, allowing you to allocate the 4% sales tax to [...]
Inversely, if something is shipped via FOB origin, FOB freight collect can be used by a seller to retrieve payment for the freight and other charges that may occur. However, their liability is gone the [...]
Bookkeepers may start working for a small business to gain experience and then go back to school for a degree in accounting or finance. Enrolling in one of the best online bookkeeping classes is a [...]
Real estate investors also rely on ROI to assess the profitability of their properties. By calculating the ROI of a rental property, investors can determine if the income generated from rent justifies the initial investment [...]
