Category: Bookkeeping

What happens if you have to file your tax return late or don’t file at all? You must not, under any circumstances, neglect your tax https://znanijamira.ru/en/repairs-and-maintenance/organizaciya-i-uchet-imushchestva-banka-referat-uch-t-imushchestva-i/ status. Failure to file your return on time usually implies that any taxes owed were not paid, which can result in hefty fines. What Is Tax Day? However, some…

It’s something that becomes more and more complex as businesses expand into more channels and sales grow, which means there’s more to analyze and track. With just-in-time management, firms can improve cash flow (as less storage space is needed), reduce excess stock, and cut inventory holding costs. Firms which adopt just-in-time methods must make sure…

Your accountant will probably appreciate that you’re using a trusted payroll service provider because it enables seamless data integration, reporting and payroll processing. This empowers accountants to do more work with greater efficiency, so they have more time to work on strategies that help you run a better business. ADP automatically syncs with many popular…

If the current portion of long term debt is significantly higher than the cash and cash equivalents, the company may not actually be able to pay its debts on time. In such situation, the company’s liquidity position discretionary charge at restaurants would suffer in the eyes of creditors and both actual and potential investors. The…

Liquidation value does not include intangible assets such as a company’s intellectual property, goodwill, and brand recognition. However, if a company is sold rather than liquidated, both the liquidation value and intangible assets determine the company’s going-concern value. Value investors look at the difference between a company’s market capitalization and its going-concern value to determine whether salvage…

If you upgrade to Premium or Elite, you’ll get access to HR tools, such as onboarding checklists and performance tools. QuickBooks Online Accountant also includes access to QuickBooks Online Advanced for the professional bookkeeper to use for their own books. The app has most of the same features as the software itself, such as entering…

Let this collection of articles show you what’s possible in an outsourced nonprofit accounting firm partnership – deciding on what services you need, how to get the most from those services, and how to transition. Just like we discussed in the reporting section, you don’t want to just check something off your list, you want to ensure…

If competitors launch new products, offer better prices, or implement aggressive marketing strategies, a business might experience a decrease in its sales volume. Conversely, if a company gains a competitive edge through innovation, superior customer service, or unique value propositions, it can capture a larger market share and increase its sales volume. Sales variance analysis…

If the remaining balance is less than what it should be, there is a shortage. If the remaining balance is more than what it should be, there is an overage. Although there can be minor variances, when unbalanced, the source of the discrepancy should be identified and corrected. However, to effectively use your organization’s petty…

Gross profit margin is a type of profit margin where the cost of goods sold is subtracted from total revenue. It’s the most straightforward measure of profit margin and shows how much money a company retains after accounting for the cost of the goods. Many businesses regularly eliminate low-performing inventory or change their service offerings.…