Using the cash method, if you make a sale, you count the related revenue when the cash payment is received from your customer. A business may consider switching to accrual accounting to comply with regulatory requirements, attract investors, or get a clearer financial picture. By thoroughly preparing for the transition to how to convert accrual […]

However, the publisher has asked for the customary Creative Commons attribution to the original publisher, authors, title, and book URI to be removed. Additionally, per the publisher’s request, their name has been removed in some passages. This is “Applying LIFO and Averaging to Determine Reported Inventory Balances”, section 9.5 from the book Business Accounting power […]

Ultimately, hiring a bookkeeper or financial management company will be different for every business and bookkeeper costs will vary. Deciding what kind of small business bookkeeping services you need, and what your business can afford is a great place to start. FinancePal offers a variety of financial services tailored to your industry and business operations. […]

For example, a company’s revenues may grow, but its expenses might grow at a faster rate. In short, the balance sheet is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. Balance sheets can be used with other important financial statements to […]

Significant solvency ratios are- debt to capital ratio, debt ratio, interest conversion ratio, and equity multiplier. Solvency ratios are predominantly utilized by state-run administrations, banks, employees, and institutional financial backers. Determining individual financial ratios per period and following the adjustment of their values over the long run is done to recognize patterns that might be […]

So, with all the previous steps in mind, let’s calculate the actual FTE based on the specific numbers we’ve used. The first step to calculating the FTE of your company is to make a list of all of your employees. FTE or full-time equivalent is a tool to help you gauge the potential productivity of […]

McConney testified he was told by former Trump Organization chief financial officer Allen Weisselberg that the payments were reimbursing Cohen. The document has handwritten notes that ex-Trump Organization executive Jeffrey McConney testified belonged to Allen Weisselberg. Weisselberg was the long-time chief financial officer at the Trump Organization. He is currently in jail for committing perjury […]

During the application process, factoring companies request documentation, such as financial statements, customer payment history, and credit reports. This information helps them evaluate the creditworthiness of both the company and its customers. A factoring company may also consider the accounting receipt industry in which the company operates, as certain industries may carry higher risks due […]

You can also connect your business bank account to make recording transactions easier. In double-entry bookkeeping, debits and credits are terms used to describe the 2 sides of every transaction. Debits are increases to an account, and credits are decreases to an account. In double-entry accounting, what’s the difference between debits and credits? The purpose […]

InFlow’s stock management system meets the end-to-end needs of both retailers and manufacturers. Managing your online store inventory is crucial for the success of your e-commerce business. With proper inventory management, you can ensure that you have the right products in stock, avoid stockouts and overstocking, and provide a seamless shopping experience for your customers. […]