Nonprofit accounting provides financial information that is essential for maintaining a stable financial position. When analyzing a non-profit organization’s balance sheet, it is important to identify any changes in the financial position over time. This can provide valuable insights into the organization’s financial health and… Read More »Analyzing Non-profit Organization’s Balance Sheet: Key Considerations
Refunds will be issued only in the event of overpayment, duplicate payments, or a payment made when no tax was due, and a refund was requested on your return. Payments not received within five (5) business days after the due date will be considered late. A second… Read More »Oregon Tax Tables 2024 Tax Rates and Thresholds in Oregon
Managing accounts payable with outdated systems often means navigating loads of inefficiencies and uncovering hidden costs. A leading provider of better-for-you foods that also taste great, Simple Mills’ small AP team struggled with processing a growing volume of invoices using their previous AP system. By… Read More »How To Master Changes To Your Accounts Payable Software
The best accounting software for contractors includes project management and inventory normal balance tools to gauge the profitability of a job. Unfortunately, QuickBooks’ features—at least those included with its base plan—aren’t quite enough to justify its high starting price. And you’d think a company as… Read More »The 7 Best Accounting Software for Freelancers in 2023
This can be sufficient for very small businesses that aren’t incorporated. As a business owner, you’ll most likely have to create a complete financial report at least once a year, for tax purposes. However, there are plenty of reasons to make quarterly, or monthly financial statements as… Read More »The Best Books for Starting a Business
When you launch a bookkeeping service, you are, in fact, launching a business in and of itself. This indicates that if you don’t know how to operate a business, you need to not only learn how to run a business but also have experience running… Read More »Is It Hard to Be a Bookkeeper?
No matter what kind of memo you’re writing, you’ll need to include a heading. It must be noted that the memorandum serves two main purposes, as far as companies are concerned. Firstly, they serve the purpose of ensuring that companies have internal records kept and… Read More »How to write accounting memos: walkthrough, examples, downloadable template
This may involve working with the vendor to improve packaging or implementing new processes to ensure proper handling of goods. So debit memo charges are used by banks and businesses to recover costs or correct mistakes. Never forget to regularly review and audit the debit… Read More »Debit Memorandum: Definition in Three Scenarios
Once you’ve determined the asset’s salvage value, you’re ready to calculate depreciation. If the residual value assumption is set as zero, then the depreciation expense each year will be higher, and the tax benefits from depreciation will be fully maximized. When calculating depreciation, an asset’s… Read More »Salvage Value Definition, Importance, Depreciation
It is calculated by dividing the contribution margin (sales revenue minus variable costs) by total sales revenue. Expressed as a percentage, it provides a clear view of product or service profitability. While contribution margin is expressed in a dollar amount, the contribution margin ratio is… Read More »Contribution Margin Ratio: What It Is And How To Calculate It