Bookkeeping

Recording straight-line depreciation in financial statements involves debiting the depreciation expense account and crediting the accumulated depreciation account annually. This reflects the asset’s gradual decrease in value and its impact on the company’s financial health. Straight-line depreciation is a simple method for calculating how much a particular fixed asset depreciates (loses value) over time. Take, …

Straight-line method of depreciation explanation, formula, example and limitations Read More »

Monitor how turnover rates affect your operational costs, including handling, storage, and logistics expenses. Sometimes, slightly lower turnover with better cost control can yield higher profits. Utilize historical data and market trends to predict future demand more accurately. A balanced ratio indicates good financial management practice and modern inventory management systems (IMS) like ones from …

Inventory Turnover Ratio: What It Is, How to Calculate and Significance Read More »

We have helped accounting teams from around the globe with month-end closing, reconciliations, journal entry management, intercompany accounting, and financial reporting. The process of impairment testing involves comparing the asset’s carrying amount to its recoverable amount, determined by the higher of its NRV or value in use. If the carrying amount exceeds the recoverable amount, …

NRV: What Net Realizable Value Is and a Formula To Calculate It Read More »

Optimizing freight out operations leads to improved customer satisfaction, as timely and accurate delivery of products is crucial for maintaining positive customer experiences. It also reduces transportation costs, enhances supply chain resilience, and strengthens a business’s competitive advantage. Freight in directly influences a company’s balance sheet and income statement. Freight out primarily affects the income …

Freight In vs Freight Out Simplified for Business Owners Read More »

In 2025, this involves integrating AI analytics for predictive financial modeling, enabling businesses to make data-driven decisions with unparalleled accuracy. The COVID-19 pandemic profoundly altered the business landscape, highlighting the importance of agility and resilience. Fractional CFOs became pivotal in helping companies adapt their financial strategies, manage cash flow during downturns, and capitalize on recovery …

SaaS Fractional CFO: Why Your SaaS Business Needs One and How to Choose the Right Fit Read More »

Whether it is a last-minute tax question or something urgent with payroll, you need access to support whenever you need it. You need a clear picture of your financials, but you want to see the information that matters to you. Whatever it is, you should be able to customize your dashboard so you are not …

Amarissa Accounting Services hiring Senior Bookkeeper in Pretoria, Gauteng, South Africa Read More »

Financial forecasts are essential if you are looking to borrow money or attract investors. It’s crucial for construction bookkeeping to forecast financials because you’re often dealing with large value contracts and relatively low margins compared to other industries. For contractors managing several projects simultaneously, tracking costs and ensuring profitability for each one can be overwhelming. …

The Ultimate Guide To Construction Bookkeeping Read More »

The magic happens when our intuitive software and real, human support come together. Book a demo today to see what running your business is like with Bench. Our bookkeeping service, based in Irvine, CA aims to bring up and promote women in the accounting industry and we feel that these values set us apart. Gain …

JL CPA & CO Irvine Bookkeeping and Tax JL CPA & CO Small business CPA serving Irvine and all of Orange County Read More »

Because Intacct is Sage’s only fully cloud-based solution, users don’t have to worry about lengthy interruptions for updates and server reboots. Please note that these solutions are provided for reference and are not ranked in any particular order. Empower your PMs to improve billing efficiency and increase project profitability. You and your team need a …

How to Do Accounting for Your Construction Business 8 Steps Read More »

It demonstrates how quickly and effectively a company can convert AR into cash within a certain accounting period. It measures how efficiently and quickly a company converts its account receivables into cash within a given accounting period. If Alpha Lumber’s turnover ratio is high, it may be cause for celebration, but don’t stop there. Company …

Accounts Receivable Turnover Ratio: Definition, Formula & Examples Read More »