Both expense payment forms include standard fields, such as payee and due date, and calculate the total due from quantities and price per unit. Purchase orders can be converted to bills once fulfilled, which is a nice time-saving feature the two accounting providers offer. Although Xero and QuickBooks Online integrate with your existing inventory — […]
Archivio Categoria: Bookkeeping
Fixed expenses are expenses which remain static, not fluctuating over time. The term “fixed expenses” can be used in reference to either personal or business finances. Although variable costs are quite often discretionary expenses, some may be necessities. Buying gas for your car each month is a variable expense, as are car repairs and maintenance. […]
For example, direct labor or rent for production facilities may be classified as different types of operating expenses. These are costs that constantly and consistently occur, so a company cannot avoid them at all. These expenses rarely have anything to do with production and never really vary, which means they are relatively predictable. Some examples […]
Learn more about how they impact forecasting and statements. If you calculated along with us during the example above, you now know what your retained earnings are. Knowing financial amounts only means something when you know what they should be. Atypical means that it looks and behaves differently in a clinical sense compared to other […]
In this example the supplier is giving up 2% of the invoice amount in order to be paid 20 days early. It is a common phrase used to describe an interest rate. Often “per annum” is omitted, as in “I have a 4% mortgage loan.” or “This bond pays interest of 6%.” Stack Exchange network […]
Over 1.8 million professionals use CFI to learn accounting, financial analysis, modeling and more. Start with a free account to explore 20+ always-free courses and hundreds of finance templates and cheat sheets. Here’s how — using a California employee with a salary of $60,000 as an example. Gross income and net income are two terms […]
Associations are required to keep exact books of record, as required by the IRS and for obligation detailing purposes. Become a NTC Exclusive Agent and enjoy the personal satisfaction and financial rewards that come from helping others achieve their goals. By utilizing the knowledge, the systems and the relationships that we’ve developed over 12 years, […]
Select your product below to explore product help, discover frequently asked questions, and connect with our support team. In this demonstration you’ll explore the processes for MyTaxInfo, and see how it can make the collection of tax information from taxpayers easier and more reliable. Tackle the most complex tax returns, such as multitiered consolidated return processing […]
This approach to production costing helps with creating and refining budgets. When you can estimate how much it’ll cost to produce each unit, you can gauge your progress during each accounting period. It involves calculating the weighted average cost of all units available for sale during a given period. Because manufacturing businesses carry an inventory, […]
If the debt repayment occurs within the period of a year, it is considered a short term liability, and if it occurs over a period longer than a year, it is considered a long term liability. Keeping accurate logs of expenses and owed payments of all kinds is important to any business’s spend management process, […]