Category Archives: Bookkeeping

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In addition, the report contains a note which states the basis of accounting for the numbers reported on the financial statement. The business financial statement clarifies how cash is used, the profitability, and the company’s overall financial health. The information provided in this blog is for general informational purposes only and is not intended to […]

Time Card Calculator is used to manage the timesheet of employees or for personal use. Also, the timesheet calculator helps you to track the total working hours, break time, and total pay during the week. In short, it is the best customizable online tool equipped with a lot of features to ease your payroll administration. […]

Being paid hourly can impact your annual salary, which in turn influences your tax bracket and potential deductions. By adopting an annualized salary, businesses can better manage budgeting and forecasting, while employees enjoy a reliable and fair representation of their compensation. It’s a symbiotic arrangement that accommodates the fluctuating nature of work and safeguards the […]

Even though nonmanufacturing overhead costs are not product costs according to GAAP, these expenses (along with product costs and profit) must be covered by the selling prices of a company’s products. In other words, selling prices must be large enough to cover SG&A expenses, interest expense, manufacturing overhead, direct labor, direct materials, and profit. Product […]

Crafting an irresistible value proposition is key to standing out from the competition and attracting your ideal customers. If you can’t articulate what makes you special, you might as well start rehearsing your pitch for when you have to beg friends and family for their pity purchases. Focused on practicality, this value proposition appeals to […]

The chart of accounts can be expanded and tailored to reflect the operations of the company. For any of the financial statements to be accurate it is necessary to have a proper cut-off. This means including all of a company’s business transactions in the proper accounting period. For example, the electricity bill arriving on January […]

Next, calculate the total manufacturing costs incurred during the period, as detailed above. Assuming these costs totaled $100,000, the sum of beginning WIP and total manufacturing costs would be $120,000 ($20,000 + $100,000). During the quarter, they incurred $70,000 in direct materials, $50,000 in direct labor, and applied $30,000 in manufacturing overhead. A company’s WIP […]

I promise you will learn something new and help your personal brand stand out from the crowd. He is a also a great guy, very helpful, but his class just wasn’t geared toward a beginner. I will tout the Staiger book again for learning by yourself. This module will serve as a primer on real […]

Factoring with altLINE gets you the working capital you need to keep growing your business. The money advanced against these invoices will be repaid by your customers. Small business factoring offers more certainty because as long as your invoice factoring invoices are approved, you will get cash advances on them. Invoice factoring is typically better […]