However, software programs can be time-consuming, which can pose a problem for small companies with few staff. Even if you use payroll software, don't assume that everything is running automatically…
Another important example of opportunity cost related to personal finance arises whenever you get a paycheck. Many people deposit their paycheck directly into a checking account, where it essentially sits stagnant.…
Net book value is calculated as the original cost of an asset, minus any accumulated depreciation, accumulated depletion, accumulated amortization, and accumulated impairment. Given these deductions, net book value represents an…
If you’ve built a small business from the ground up, you probably know your industry, customers, and products or services like the back of your hand. When it comes to…
You’ll provide the consulting services each month without receiving payment, and you’ll record this as accrued revenue. When you finally get paid, the accrued revenue is recognized as received revenue.…
Bookkeeping for a construction company in Massachusetts requires intimate knowledge of the fluidity of how numbers can change from job to job. Understanding the financial nuances of construction projects requires…
Completing a certification program can set candidates apart from others who are also looking for bookkeeping jobs. Revenue refers to all the income that comes into the business after selling…
Understanding the right KPIs helps businesses make informed decisions and optimize operations. Maintaining data security and privacy is crucial in online bookkeeping for e-commerce. Protecting this data not only safeguards…
Investors and lenders want to see receivables turnover ratios similar or slightly higher than other businesses in your industry. Companies with efficient collection processes possess higher accounts receivable turnover ratios.…
Suppose your out-of-pocket maximum is $6,000, your deductible is $4,500, and your coinsurance is 40%. An out-of-pocket maximum is different from a plan's deductible. This may sound like common sense,…