Notes payable arise in various situations, such as when a business borrows money directly from a bank or financial institution. They can also be used when purchasing significant items like equipment or a building on credit, where a formal written agreement outlines the terms of repayment. These arrangements formalize the debt, distinguishing them from less […]
Category Archives: Bookkeeping
If Apple generates total revenue of $100 million through iPhone sales and incurs COGS of $60 million for producing those iPhones, their gross profit is $40 million ($100M – $60M). But your gross margin is that $3 expressed as a percentage of the latte’s $5 price tag. So, you’d divide your $3 gross profit by […]
The employee (and the dependent’s attending physician) must complete a adpdvs Request for Continuation of Coverage for Handicapped Child form and Attending Physician’s Statement to provide satisfactory proof of the disability and dependency. The forms must be submitted no later than 31 days after the date the child turns 26. To avoid any gap in […]
With its user-friendly interface, Xero simplifies accounting tasks. Xero simplifies accounting for small businesses. With Xero, control cash flow and manage invoices effortlessly. Features like GST returns and expense tracking enhance efficiency. Small teams or freelancers can use Xero to stay organized. This way, you don’t have to create new invoices each time. Its integration […]
A personal check can bounce if the payee tries to cash or deposit it when there is not enough money in the issuer’s account. The recipient probably won’t receive the money from the check, and the issuing bank could charge the account holder a fee. In today’s rapidly evolving financial landscape, checks remain a fundamental […]
The ProjectManager project dashboard updates automatically, so you’re always looking at the most current figures and make the smartest budgeting decisions. Variance tolerances are defined, such as +/- 5% or +/-15%, and whenever the variances are found outside this range, an investigation is recommended. We said it is potentially harmful to the project and the […]
On the other hand, if interest rates fall, you may be stuck with a lower rate of return than you could have earned elsewhere. Traditional CDs offer a fixed rate of return, while variable rate CDs offer a rate that can change over time. If you’re looking for a higher rate of return, you may […]
As you’ll see below, both accounts receivable and inventory balances are used to calculate the CCC. Generating a profit is important, but even profitable businesses struggle if they can’t collect cash fast enough. Steps can also be taken to improve customer relationships, which will further improve procurement and sales forecasts. While reducing inventory holding is […]
Stockholders’ equity, also known as shareholders’ or owners’ equity, represents the residual interest in the assets of a company following the settlement of all its liabilities. This figure is frequently used by investors and financial analysts to evaluate a company’s overall financial position and potential profitability. By understanding stockholders’ equity, you can assess whether the […]
SaaS companies tend to be built in having accounts that make use of the company’s product on a continual or recurring basis. In contrast to traditional products, where the buyer makes a one-time purchase for use of the product, the user of a SaaS product will make regular payments in order to maintain their product […]