Bookkeeping

What is depletion: methods, importance, & impact

For example, if £10 million of oil is extracted and the fixed percentage is 10%, £1 million of capitalised costs are depleted. Depletion refers to reducing a natural resource as it is used or extracted,...

Expense is Debit or Credit? How & Why? Examples More .

If a company renders a service and gives the customer/client 30 days to pay, the company’s Accounts Receivable and Service Revenues accounts are both affected. For each transaction mentioned, one account will be credited and...

National Bookkeeping Service, 3705 Madison Ave, Indianapolis, IN 46227, US

For tax preparation in Indianapolis IN, you can count on Richard A. Benjamin at National Bookkeeping Service Inc. Richard A. Benjamin assists taxpayers and small businesses with taxes in Indianapolis IN and the surrounding communities....

Retail Accounting 101: Simplifying Accounting For Retailers

If you use an ecommerce platform (BigCommerce, Shopify, etc.), check the integrations to simplify data import flow. Then you should enter financial preferences and set up online payment. According to the FIFO method, when you...

How profitable is owning a gym? A guide for aspiring gym owners

A gym owner who runs a large, successful gym in a high-traffic location will potentially earn a much higher salary than a gym owner who runs a small gym with limited revenue streams. The owner’s...

Nonprofit Financial Statements And Reporting Sage Advice US

Internal controls are a set of written policies, processes, procedures, and systems of authorization, reconciliation, documentation, security, and separation of duties. As a result, the reporting requirements for nonprofits are built into the software so...

How To Use Excel for Accounting +Free Templates

An income statement, or profit and loss statement, provides a look into the financial performance of a company over a period of time. The statement provides a summary of the company’s revenue and expenses, along...

Guide to Predetermined Overhead Rate Formula

Manufacturers use the predetermined overhead rate to track and control expenses in relation to production and sales, ensuring alignment with business operational goals. Additionally, you should recalculate your predetermined overhead rate any time there is...

No-BS Guide To Horizontal Analysis Formulas And Examples

Now that you’ve gained a comprehensive understanding of horizontal analysis and its advanced techniques, it’s time to explore its real-world applications. Horizontal analysis is a versatile tool with a wide range of practical uses in...

How to Price Bookkeeping Services for Small, Medium, and Large Clients

If you want additional services (such as tax preparation), an online firm can easily provide supplemental services. If your business is moving into a growth stage, you need to consider graduating to full accrual based...