Category: Bookkeeping

Two companies with similar gross profit margins could have drastically different adjusted gross margins depending on the expenses that they incur to transport, insure, and store inventory. The net profit margin reflects a company’s overall ability to turn income into profit. The infamous bottom line, net which of the following is the correct equation for… Continue reading Calculating Profits and Losses Microeconomics

Instant Payout is an additional service offered by Wave subject to user and payment eligibility criteria. A 1% fee is applied to the amount what is the current portion of long-term debt cpltd you withdraw from your available balance, in addition to regular processing fees. Deposits are sent to the debit card linked to your… Continue reading Best Invoicing App For Small Businesses Wave Financial

You get a rough estimate on the future value for any monthly SIP, based on a projected annual global consumer banking return rate. If you also have lots of FD in your portfolio, then use this FD calculator to get the approx value of your maturity amount. A systematic investment plan (SIP) is a mutual… Continue reading Calculate Return on Systematic Investment Plan Online

Earnings give rise to increases in retained earnings, while dividends (and losses) cause decreases. Notice that the left hand side (also known as assets side) of the equation shows the resources owned by the business and the right hand side (also known as equity side) shows the sources of funds used to acquire these resources. All assets owned by… Continue reading 2 4: The Basic Accounting Equation Business LibreTexts

You need to recertify every year by June 30 to maintain your QuickBooks Online certifications. Moving forward, we’ll make registration for virtual conference events available through the training tab in QuickBooks Online Accountant. You can access available training directly from QuickBooks Online Accountant. Visit the Accountant University to see the upcoming training schedule. On-demand and… Continue reading Quickbooks Online Accountant Training, Quickbooks Certification Intuit

The franchisor is responsible for coordinating financial statements from all the franchise units, while the franchisee manages the day-to-day accounting process of each unit. Franchisees benefit from having a dedicated CFO who oversees all financial aspects of the business, ensuring compliance with accounting standards and regulations. This hands-on approach allows franchise owners to focus on… Continue reading Franchise Accounting Services

Then, the remaining profit is transferred to Capital Account or Current Account on the basis of Profit sharing ratio. Sometimes, a partner may fully devote his time to the working of the business. It is similar to allowing interest on capital to a partner, who contributes larger amount towards capital. When the partners decide to… Continue reading Mastering Partnership Capital Accounts: Navigating Tax Complexities and Equity Valuations

However, the “Secure” brand of checks offer in-depth fraud protection measures that may justify the price, provided you anticipate security risks at your business. Simply put, if you need a rock-solid, feature-packed accounting solution at a fair price, https://www.bookstime.com/ QuickBooks is the best. Simple Starts includes all the features from the Self-employed Plan but adds… Continue reading QuickBooks Online Pricing And Plans 2024 Guide

If accounts receivable is $40,000 and allowance for doubtful accounts is $4,000, the net book value reported on the balance sheet will be $36,000. Last, for contra revenue accounts there are sales discounts, sales allowances, or sales returns. These contra revenue accounts tend to have a debit balance and are used to calculate net sales.… Continue reading What is Contra Entry: Meaning, Examples, Format, Advantages

QuickBooks guides users through the sales tax setup process, which includes entering information about your products and where you sell them. It will also help you identify customers and items that are tax-exempt. You can also set up QuickBooks’ automated sales tax feature, which calculates sales taxes on invoices and receipts and notifies you about… Continue reading How To Find A Small Business Accountant