You can also quickly compare Xero with FreshBooks to make better business choice. A financial advisor or accountant can provide you with some guidance on the best type of bookkeeping software for your business. While any competent employee can handle

Regardless of the depreciation method used, the total amount of depreciation expense over the useful life of an asset cannot exceed the asset’s depreciable cost (asset’s cost minus its estimated salvage value). To illustrate an Accumulated Depreciation account, assume that

The client company also remains liable for tax remittance whether or not it has outsourced this particular payroll function, meaning it’s on the hook for any errors even if it’s not immediately responsible. The process of managing employee payroll is

However, in most cases, you'll have to wait for the transaction to post before disputing it. Proactive account management can help avoid many transaction-related issues. Regularly reviewing account activity, promptly addressing discrepancies, and understanding the terms and conditions of your

QuickBooks, NetSuite, and Acumatica have been designed with customization and specialization in mind. We understand the benefits of optimizing QuickBooks for your business and industry. Our ongoing review of systems & output to ensure processes are being followed and your

We are the trusted, independent resource for businesses of all sizes to explore, initiate, and embed outsourcing into their operations. There’s a lot of hidden costs invested in a product by the time you sell it. The obvious downside to

Until your business becomes better known, it can take some time to bring in a steady stream clients/customers. A business has to reach its breakeven point for it to ever be profitable. Unless your business consistently has income higher than

Double-entry bookkeeping can appear complicated at first, but it’s easy to understand and use once the basic concepts have been learned. To illustrate how single-entry accounting works, say you pay $1,500 to attend a conference. Double-entry bookkeeping produces reports that

ContentGross Profit vs Net Profit FAQsGross profit vs gross profit marginGross profit formulaGross profits + net profits = informed decisions.What is the difference between gross and net profit?Importance of gross profit in assessing businessWhat is gross revenue? You need a clear

A fixed asset does not necessarily have to be fixed (i.e., stationary or immobile) in all senses of the word. Edriaan Koening began writing professionally in 2005, while studying toward her Bachelor of Arts in media and communications at the