Depending on the agreement, your fee may be paid in advance, making it unearned revenue until you deliver your services for the period. As time passes and the business delivers on its promise, a portion of the unearned revenue must be reclassified as earned revenue. This process should align with the company’s revenue recognition schedule. […]
Depending on the agreement, your fee may be paid in advance, making it unearned revenue until you deliver your services for the period. As time passes and the business delivers on its promise, a portion of the unearned revenue must be reclassified as earned revenue. This process should align with the company’s revenue recognition schedule. […]
When setting up integrations, ensure proper mapping of income and expense categories. Configure tax rules within your ecommerce platform to align with your bookkeeping system. Cloud-based accounting software is often preferred for its accessibility and automatic backups. It allows business owners to monitor finances from anywhere, facilitating remote management and collaboration with accountants or team […]
Adds powerful capabilities on top of payroll, such as garnishment payment service, SUI management, background checks, and job posting through ZipRecruiter®1. Perfect for startups and established companies that simply need payroll, taxes, and help with compliance they can trust. Activation When your account is first created, you will receive an email that contains a temporary […]
With the advent of e-commerce, most commercial electronic transactions occur under the terms of “FOB shipping point” or “FCA shipping point”. FCA or “free carrier” means a seller is obligated to deliver goods to a specified location or carrier where the buyer will take responsibility for transit. From that point, the buyer is responsible for making […]
The control aspect of standard costs comes into play when actual production occurs. Cost standards are scientifically predetermined costs of products, components of products, processes, or operations. They are used as statistical bases for the evaluation of actual performance. DenimWorks purchases its denim from a local supplier with terms of net 30 days, FOB destination. […]
Because we are more of a long-term finance partner (which is what you want) compared to a short term “outsourced” bookkeeping firm, all of our engagements are custom. Finally, provide employees with documented processes so they understand how to consistently apply policy and workflows. Yet their impact as a profit drain on the company is […]
This means that debits exceed credits and the account has a positive balance. When a payment is made, the credit entry is recorded on the left side and the debit entry is recorded on the right side. This means that when invoices are received from suppliers, the accounts payable account is credited, and when payments are […]
Variable costs areallocated using a rate of $100 per kilowatt hour. If you used estimated machine hours to calculate the rate, use actual machine hours. If you used direct labor hours to calculate the rate, use actual direct labor hours. Example of Calculating Overhead Costs As an example of a departmental overhead rate, if a […]
From there, we searched through the top contenders to see who really stood out in performance for certain areas. By looking deeper into the individual specialties of these 401(k) companies, we were able to identify the best contenders for your business. To get the best possible experience please use the latest version of Chrome, Firefox, […]