Bookkeeping

This principle helps investors make more informed decisions about buying and selling securities, aiming to protect their investments and potentially achieve better returns. The Margin of Safety (MOS) represents the buffer zone between a company’s break-even point and its actual or projected revenue. It serves as a financial safety net, providing room for fluctuations in […]

An accountant can explain how your business can meet these requirements and the penalties you may face for failing to do so. Small businesses are more likely to be audited than individual taxpayers. They’re also targets for lawsuits, even after their operations come to an end. In both events, you may need access to your

This analysis enables better control over expenses and maximizes profits. These features work together to streamline inventory management, helping you keep costs down while maximizing the value of your stock and making your business more efficient and profitable. Imagine a retail store that purchases 100 units of an item for PHP 100 each and another

DenimWorks purchases its denim from a local supplier with terms of net 30 days, FOB destination. This means that title to the denim passes from the supplier to DenimWorks when DenimWorks receives the material. Any difference between the standard cost of the material and the actual cost of the material received is recorded as a

In essence, when something is described as “one for the books,” it means that it is extraordinary or remarkable in a way that stands out from the ordinary. It’s an event or experience that is worth remembering and retelling, often because of its uniqueness or significance. The phrase “one of the book” is used when

Other withholdings are based on agreements with employees and court orders. If the withholdings are for amounts how is sales tax calculated that are due the company (such as employees’ share of insurance premiums or amounts owed by employees for company merchandise), no remittance is required. Rather, the journal entry reflects a credit that reduces

It can create accounts to allocate money for taxes, insurance, retirement savings, and other payroll expenses. Payroll accounting is very different from other types of accounting, such as financial and managerial. Like financial accounting, payroll accounting involves recording and categorizing company transactions, but it focuses exclusively on employee-related expenses. Unlike managerial accounting, payroll accounting requires

Features include expense tracking to help you categorize and monitor your business spending. You can also normal balance automate recurring invoices and payment reminders to save time and keep cash flow steady. Plus, the client portal makes it easy for your customers to view and pay their invoices directly. Features include online invoicing that helps