Category Archives: Bookkeeping

Businesses understand that a customer transaction doesn’t end after the sale. There are often issues that arise, such as overcharging or returned items, which require financial adjustments. Credit and debit memos are simple tools businesses use to ensure the customer is paying https://www.bookstime.com/articles/the-accounting-equation-may-be-expressed-as the correct amount. While debit notes are traditionally used to inform customers […]

By prioritizing backups, you guarantee the peace of mind that your financial records are always recoverable, allowing you to focus on your financial goals with confidence. Incorporating deadline reminders into your bookkeeping routine can help you avoid missing crucial tax filings or accruing late fees. Use a digital calendar, like the one on your smartphone […]

Find the best trucking accounting software for your business with our comparison guide. Read about features, pricing, understanding percentage completion and completed contracts and more to make the best decision for your company. The break-even point (BEP) is the amount of product or service sales a business needs to make to begin earning more than […]

We’ve already mentioned the importance of making multiple scenarios to prepare for what “might” happen. But when things do pop up, you should adjust your financial plan accordingly. Essentially, your downside financial plan should have a little bit of skepticism, not pessimism. The difference is skepticism means having https://socionics.me/articles/24psy22.html some doubt, while pessimism is assuming […]

Always keep in mind that the results are not 100% accurate since it’s based on assumptions about the future. The calculation can only be as accurate as the input assumptions – specifically the discount rate and future payment amount. To calculate the present value of a series of payments, we will be using the below […]

The Accounting Rate of Return can be used to measure how well a project or investment does in terms of book profit. So, in this example, for every pound that your company invests, it will receive marketing cost per unit a return of 20.71p. That’s relatively good, and if it’s better than the company’s other […]

A big part of HVAC accounting is planning for future business expenses and workflows, something called a cash flow projection. By checking past payments and income, you can predict what your future expenses might look like for hvac bookkeeping similar jobs and price your labor and materials accordingly. Implementing field service management software, like Payzerware,  […]

Moreover, salon accounting software can help you streamline your invoicing process and ensure that you get paid on time. This can have a significant impact on your cash flow and profitability, as you can use the software to send automated reminders to clients who have outstanding invoices. Furthermore, salon accounting software allows you to generate […]

The major reports to include are the profit and loss, the balance sheet, and a cash flow analysis. Additionally, the aged accounts receivables and aged accounts payables reports are helpful in knowing which customers have not paid and which vendors are yet to be paid. These reports will help you gain greater insights into the […]

In the short term, riskier investments such as stocks or stock mutual funds may lose value. But over a long time horizon, history shows that a diversified growth portfolio can return an average of 6% annually. Investment returns are typically shown at an annual rate of return. Compound interest is often calculated on investments such […]