Category: Bookkeeping

For auditors, timely reconciliation is a sign of a company’s commitment to financial diligence and can make the audit process smoother. Debit memo reconciliation is a critical component of account reconciliation that ensures financial accuracy and integrity. This process involves verifying and matching debit memos, which are documents issued by a seller to a buyer,…

As is often the case, comparisons of the debt ratio among different companies are meaningful only if the companies are similar, e.g. of the same industry, with a similar revenue model, etc. In this article, we will explore how this metric is used and interpreted in real-world situations. It indicates an extreme degree of leverage,…

If you’re ready to streamline your financial operations and unlock your business’s potential, NOW CFO is here to help. Contact us today to What is bookkeeping learn more about how our tailored accounting solutions can meet your unique needs and drive your success. Define how often updates will be provided and which tools or platforms…

Our example comes from a real-life small group client that currently offers a platinum plan to its employees. Some of those employees are covering their entire family on the plan, and the monthly premium is more than $3,000 per family. This means you need to sell at least 1,364 cupcakes monthly to cover your costs.…

It’s crucial to keep track of all sources of income throughout the year to ensure accurate reporting. By keeping accurate records and staying informed, you can navigate tax season with confidence. Understanding tax obligations is crucial for drivers to avoid unexpected tax bills. Failure to make estimated tax payments may result in IRS penalties and interest…

This information can be used to set prices and to make decisions about which products to produce. Product-level overhead is overhead that can be traced directly to a specific product or service. For example, the cost of packaging materials used to package a specific product is product-level overhead. For example, a business may be able…

There are several ways to express the same notion or action without using the word “wave,” for example. Writing and speaking benefit from diversity and nuance through the use of synonyms and alternatives. There are things that a content writer must consider in using the words “Waive” and “Wave”. Content writers must carefully go over…

As mentioned above, levered free cash flow includes expenses related to debt repayments and interest, whereas unlevered free cash flow does not include these debt obligations. However, both levered and unlevered free cash flow include capital expenditures. Essentially, unlevered free cash flow measures the cash available to equity and debt holders before paying debt obligations,…

Yes, virtual and outsourced bookkeeping is just as legitimate as in-house bookkeeping and accounting. Virtual, outsourced, and online are often used interchangeably when referring to bookkeeping and accounting. However, a virtual bookkeeper or virtual accountant can sometimes refer to accountants or CPAs who work out of their homes and contract out their services individually. In contrast,…

This will make it easy for you to send invoices online, track expenses, monitor payment status, generate financial reports, and more. The average hourly rate for an accountant in the U.S. https://www.bignewsnetwork.com/news/274923587/how-to-use-construction-bookkeeping-practices-to-achieve-business-growth is about $35, making it quite affordable for the average owner. However, these rates may vary depending on the size of your company,…