Bookkeeping

Because you typically need to pay vendors quickly, accounts payable is a current liability. You can take out loans to help expand your small business. A loan is considered a liability until you pay back the money you borrow to a bank or person. Business owners who keep a chart of accounts handy will have […]

View the Property Taxes Overview for detailed information about Property Taxes. Click on a specific county on the map or from the table below for detailed Property Tax information. You can also learn how property taxes are calculated and CARES Act about their history. Whether you’ve lived in Florida your whole life or you’re thinking

A low ratio compared to industry averages indicates an inefficient use of business assets. Operating ratio is used to determine the efficiency of the management with which it is possible to generate a certain level of sales or revenue. It also helps in establishing how the company’s management is instrumental in reducing costs. The net

For example, a small business that manufactures widgets may have fixed monthly costs of $800 for its building and $100 for equipment maintenance. These expenses stay the same regardless of the level of production, so per-item costs are reduced if the business makes more widgets. Table 1.2 provides several examples of manufacturing costs at Custom

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