Bookkeeping

If you’re not tracking variable expenses regularly, it could be very easy to under- or overestimate how much of your budget you should allocate to them. This is something you can easily do with a budgeting app, however, which can minimize the odds of variable expenses sideswiping your spending plan. When making a budget, it’s […]

Many companies working on an invoicing basis will offer their buyers discounts if they pay their bills early. One example of discount terms would be 1/10 net 30 where a customer gets a 1% discount if they pay within 10 days of a 30-day invoice. Sellers don’t account for a discount unless a customer pays […]

Conversion costs include indirect materials, indirect labor, and other overhead costs. Consider a professional furniture maker who is hired to make a coffee table for a customer. The prime costs for creating the table include the cost of the furniture maker’s labor and the raw materials required to construct the table, including the lumber, hardware, and […]

You need real-world experience backed by proven strategies that remain flexible to allow for life’s transitions. The importance of creating long-lasting relationships has always taken precedence for the firm, and it continues to serve second and third generations of business owners and families, an accomplishment it is certainly proud of. The partners and employees of […]

It also reduces the quality of your transaction data and makes it harder to forecast your cash flow requirements accurately. All outstanding payments due to vendors are recorded in accounts payable. As a result, if anyone looks at the balance in accounts payable, they will see the total amount the business owes all of its vendors and […]