Bookkeeping

Think CRM platforms for managing customer relationships, inventory management tools for tracking stock, and e-commerce platforms for selling online. As Forbes points out, QuickBooks Online boasts over 650 app integrations, simplifying and automating many accounting tasks (source). This extensive network of integrations streamlines processes, reduces manual data entry, and provides a more holistic view of […]

Those who want to take their accounting on the go will appreciate the mobile app. It brings most of the features of the online platform, plus it enables mileage tracking and receipt capture for quick and convenient recordkeeping. For $1,922 per year, get the Enterprise plan with advanced pricing, reporting and inventory. Simple Start I

We’ll use a 20 yearinvestment term at a 10% annual interest rate (just for simplicity). As you compare the compound interest line tothose for standard interest and no interest at all, you can see how compounding boosts the investment value. Looking back at our example, with simple interest (no compounding), your investment balanceat the end

In our example, the sales revenue from one shirt is \(\$15\) and the variable cost of one shirt is \(\$10\), so the individual contribution margin is \(\$5\). This \(\$5\) contribution margin is assumed to first cover fixed costs first and then realized as profit. The contribution margin measures how efficiently a company can produce products

These projects may also involve government contracts, which require detailed reporting and compliance with specific tax rules and regulations. Managing equipment depreciation, subcontractor invoicing, and retention schedules is key to avoiding delays in payments and ensuring financial control. Equipment cost allocation in construction accounting involves tracking the expenses related to the purchase, maintenance, and usage

There are several types of business bank accounts, each with its own purpose and benefits. The accrual accounting method records financial transactions when they occur rather than when cash exchanges hands. Because companies invest in assets to fulfill their mission, you must develop an intuitive understanding of what they are. Without this knowledge, it can be challenging

This means that $15 is the remaining profit that you can use to cover the fixed cost of manufacturing umbrellas. Also, you can use the contribution per unit formula to determine the selling price of each umbrella. Contribution margin is used to plan the overall cost and selling price for your products. It helps you

Independent consultants and those who establish their consultancy businesses have the potential to earn even more. An accountant consultant doesn’t just analyze numbers; they also guide businesses in financial planning, budgeting, and investments. These roles often serve as stepping stones, preparing aspiring accountant consultants for the complex challenges they will later face in consultancy. In