Category: Bookkeeping

Besides, other operational costs like office space rent, electricity charges, etc., are relatively less expensive in India. The average annual salary of a software engineer in the US according to salaryexplorer.com is USD 91,900, while in India, it’s around INR 366,000 (4,796 USD). Remember, this firm will be an essential part of your business, just…

With years of experience in the field, we provide a full suite of corporate advisory solutions and accounting services to SMEs across various industries, including F&B, Retail, Logistic, Construction & Engineering, Ecommerce, and more. Our team of experienced accountants will provide you with the highest-quality accounting services at an affordable price. We focus on hitting…

You’ll also learn how to use time and location to gain financial leverage. Wealthy people (defined as those with an annual income of $160,000 or more, and a liquid net worth of $3.2 million-plus) read for education, self-improvement, and success. The Net Present Value (NPV) of your business is a calculation that helps you analyze…

Refine your return policies to be clear yet reasonable, balancing customer flexibility with business protection. Also, optimize your discount strategies by offering them selectively based on customer segment or purchase behavior. Regularly review these policies and adjust based on data-driven insights to align with market conditions and customer expectations. A contra revenue account allows a…

The double-declining-balance method, or reducing balance method,9 is used to calculate an asset’s accelerated rate of depreciation against its non-depreciated balance during earlier years of assets useful life. Depreciation ceases when either the salvage value or the end of the asset’s useful life is reached. But in practice, most companies prefer straight-line depreciation for GAAP…

However, it took a hit in ecommerce integration due to its lack of built-in integrations unless you spend $150 per month for the Elite plan. While we think Sage 50’s ecommerce integrations are outstanding for a desktop program, it did score well behind QuickBooks Online and Xero in this category. Whereas Sage 50 is dependent…

— Paul’s employee works half a pay period, so Paul accrues $500 of wages. Analysis of financial performance Adjusting entries include accruals for revenue and expenses, deferrals for prepayments, estimates for depreciation and provisions for doubtful accounts. These entries align financial statements with actual economic activity, ensuring accurate and transparent reporting.There are six types of…

A general accountant can still do quite a bit of accounting work for a business, but a CPA will be more qualified to handle higher level issues. For instance, only CPAs can prepare audited financial statements or represent companies when talking with the IRS. Accountants have specific training in financial analysis and often also in…

For example,investors and creditors look to the current liabilities to assistin calculating a company’s annual burnrate. The burn rate is the metric defining the monthly andannual cash needs of a company. For example, assume that each time a shoe store sells a $50 pair of shoes, it will charge the customer a sales tax of…

With so much riding on accurate bookkeeping, the right software can be a deciding factor in whether your accounting process is an asset or a liability for your business. This guide and video will take a close look at some of the top HOA accounting software options on the market, comparing features, pricing, and benefits…