Bookkeeping

Kanban later became a visual system in order to track work through production. Different projects require different methodologies to manage them efficiently and productively. But kanban, though more often aligned with agile and lean, is designed to work with many types of projects. Four simple kanban principles provide some structure to this flexible work management…

At the very top of the working capital schedule, reference sales and cost of goods sold from the income statement for all relevant periods. These will be used later to calculate drivers to forecast the working capital accounts. A higher ratio also means the company can continue to fund its day-to-day operations. The more working capital a…

A domicile is that place where you have your true, fixed and permanent home and principal establishment and to which, whenever absent, you intend to return. An absence which exceeds 90 days constitutes a break in residency for COLA purposes. You can purchase up to five years of active service including active duty National Guard…

First, paying yourself (and your family) market rate wages is great for your morale. Something happens in our brain when we know we are making the six-figure salary we deserve. Second, we know lots of business owners who have paid themselves this way through their payroll company (again, not giving you tax advice). They found…

Liquid assets, such as cash and marketable securities, are readily available to meet short-term obligations, whereas illiquid assets, like real estate, may take longer to convert into cash. This distinction can significantly impact the organization’s ability to respond to financial challenges and opportunities. A gain is measured by the proceeds from the sale minus the…

There are pros and cons to every business decision and payroll outsourcing is no different. Before partnering with a full-service payroll provider, employers should make sure the vendor is capable of meeting all of their requirements and has a reliable track record. As mentioned before, these are further areas where a misstep by a payroll…

The bakery’s direct costs of making those cakes, including ingredients and labor, total $500. The gross margin for the bakery would be $500 (more commonly expressed as a 50% margin), which is the revenue of $1,000 minus the direct costs of $500. This means that the bakery has $500 left over to pay for its…

While some of these terms might not apply to your business right now, it’s important to develop a holistic understanding of the subject in case you expand or move into another type of business. A balance sheet is a snapshot of your business’s financial standing at a single point in time. A balance sheet will…

Book a product demo today and we’ll send you a free gift following your session. Overall, QuickBooks delivers a unified and simplified accounting experience for businesses of all sizes. Business with contractors or employees and have to send invoices to unlimited clients. Individuals or small businesses who quickbooks accountant needs basic accounting in a single…

Inaccurate variable and fixed costs will leave managers with an incorrect break-even quantity that doesn’t accurately reflect the company’s needs to turn a profit. Variable costs are the direct expenses of producing a unit, such as raw materials and hourly labor costs. Total variable costs go up and down depending on how many units the…