You may need to contact your secretary of state or department of revenue for more information on what paperwork you may need to complete to legally establish your bookkeeping business. If you want your business to save time and money

With predictable monthly payments, businesses can plan their budgets accordingly. However, they might require collateral and a robust credit history for approval. Equity financing, on the other hand, entails selling a stake in the business to investors. After all, in the

Each puzzle is created with the McKinsey audience in mind, and includes a subtle (and sometimes not-so-subtle) business theme for you to find. Answers that are directionally correct may not cut it if you’re looking for a quick win. Either

Companies offer a comprehensive support system by addressing personal and professional needs, from healthcare security to educational opportunities and retirement planning. Determine the value of the employee fringe benefits by January 31 of the year after you give them to

It allows an easily accessible place for complex definitions or calculations to be explained should a reader desire additional information. Footing information simply means to add together all of the data in a particular column. In general, accountants must foot

FOB terms are the linchpin in determining who bears the shipping costs and responsibilities in a transaction. Whether it’s “FOB Origin” or “FOB Destination,” these terms spell out whether the buyer or seller pays the freight charges and at what

Morgan Chase found that 89 percent of respondents use mobile apps for banking. Additionally, 41 percent said they wanted more personalized banking experiences and information. Time is money in the finance world, but risk can be deadly if not given

Current liabilities include things like payroll, invoices and utility bills, such as the cost to keep the electricity running in the building. Most current liabilities are payable, and you’ll find that the majority of liabilities in the balance sheet tend

Similarly, if there are deposits appearing in the bank statement but are not in the cash book, add the entries to the cash book balance. Incorporating these strategies into your reconciliation process not only simplifies the task but also enhances

It represents the incremental money generated for each product/unit sold after deducting the variable portion of the firm's costs. Knowing how to calculate the contribution margin is an invaluable skill for managers, as using it allows for the easy computation