Bookkeeping

If a shareholder is receiving a dividend by mail, dividend checks are mailed on the payment date. By knowing how dividends work, you can benefit from the wealth-creating capabilities of dividends. If Company X declares a 30% stock dividend instead of 10%, the value assigned to the dividend would be the par value of $1 […]

Rock City Percussion uses a process cost system because the drumsticks are produced in batches, and it is not economically feasible to trace the direct labor or direct material, like hickory, to a specific drumstick. Therefore, the costs are maintained by each department, rather than by job, as they are in job order costing. Companies

We’ll introduce you to the diverse range of services you can outsource, dissect the factors to consider when selecting a provider, and reveal the top five firms shaping the industry’s landscape. In this comprehensive guide, we’ll help you simplify outsourced construction accounting and showcase how it can take your business to new heights. Deep dive

Unlike direct costs, which are tied to specific cost codes, indirect costs are typically allocated to broader accounts. Creating an accurate budget or cost estimate at the start of a project is essential. Budgets should be detailed and include all anticipated costs such as labor, materials, equipment, and subcontractor fees. Regular updates to the budget

The bank reconciliation module must also let users reconcile accounts with or without bank feeds for optimal ease of use. Both do a great job of accounting for inventory and calculating the cost of your inventory sold automatically. However, inventory accounting is included in all Xero plans, while it’s only in the Plus and Advanced

Xero’s scalable plans and app marketplace cater to an organization’s evolving demands. QuickBooks is the leading accounting software for small businesses, designed to simplify financial management and empower growth. From automating payments to managing payroll, QuickBooks offers a scalable solution that can adapt to your business needs. While Xero’s plans start at a cheaper price, QuickBooks

If you’re considering purchasing new equipment or taking out a line of credit, for example, your accountant can help you determine the financial ramifications your decision can have. Industry newcomers tend to use the terms “bookkeeper” and “accountant” interchangeably, but there are a few important distinctions between the two. Julia is a writer in New

The choice between a bookkeeper and an accountant largely depends on the size, complexity, and specific needs of the business, with many companies opting to utilize the distinct skills of both. Accountants can become a Certified Public Accountant (CPA) by passing the Uniform Certified Public Accountant exam. Even in the documents they prepare, there are

Variable costs are not typically reported on general purpose financial statements as a separate category. Thus, you will need to scan the income statement for variable costs and tally the list. Some companies do issue contribution margin income statements that split variable and fixed costs, but this isn’t common. What Is the Difference Between Contribution

With the right balance, common stocks could help you reach your financial goals over time. Getting started with investing in common stocks doesn’t have to be complicated. In fact, it is very much like investing in most other types of stocks. Investing in the stock market can feel confusing at first, especially with all the