There are many applications of data analytics in the world of accounting. For example, auditors are using analytics to enable processes like continuous monitoring and auditing. Similarly, accountants who take an advisory role within their organizations can use big data […]
Note that the asset account balance represents the purchase price of the asset in question, also known as its historical cost. Sometimes, it is important to keep the original balance of the accounts and create the contra accounts to be […]
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. Now that we’re clear on what retained earnings are […]
Freight prepaid is particularly useful when the buyer prefers a hands-off approach, leaving the intricacies of international commercial terms and customs clearance to the seller. However, this method does limit the buyer’s control over the shipping terms, which might be […]
Estimate how many hours, on average, you would spend on startup accounting. Performing a cash flow forecast (where you estimate cash coming in and out based on previous performance) will help you anticipate and plan for any shortages and surpluses […]
You may still prefer to use the formula when the item amount is harder to calculate, such as $13.52, or when the sales tax percentage has quarter points in the rate, such as 9.75%. However, if you’re selling online, you […]
Third-party logistics (3PL) providers can help you achieve a healthy DSI by optimizing your inventory process. For instance, comparing a seasonal retailer to a business with https://www.bookkeeping-reviews.com/ steady year-round sales probably won’t produce anything helpful. DSI is most meaningful when […]
If they need anything from you, they’ll get in touch. Aenten is a full online bookkeeping and accounting service. We provide all of the traditional bookkeeping services as well as consulting services for small and mid-size businesses. Receive a custom […]
When the time comes to file, you may now owe a much bigger amount because you have to pay your whole tax bill at once — versus paying it month by month if you had chosen “Non-exempt” on your W-4. […]
