Reconciliation serves an important purpose for businesses and individuals in preventing accounting errors and reducing the possibility of fraud. Businesses and individuals may use account reconciliation daily, monthly, quarterly, or annually. Accounting software automation and adding a procure-to-pay software, like PLANERGY, can streamline the process and increase functionality by automatically accessing the appropriate financial records. […]

To ensure more accurate handling of shipping cost sales tax, small businesses can leverage automation tools like Avalara Managed Returns. Automation can help you make sure you’re filing returns more accurately and on time. When it comes to sales tax on shipping costs, each individual state has its own requirements and the more states you […]

So, the gross sales of TechXYZ for that quarter is $2,000,000 before considering business expenses, deductions, discounts, returns, and allowances. The gross sales figure is calculated by adding all sales receipts before discounts, returns, and allowances together. Taxable income is a portion of net income and refers to the amount of income subject to tax, […]

This could mean that investors don’t want to fund the business operations because the company isn’t performing well. Lack of performance might also be the reason why the company is seeking out extra debt financing. Each industry has different debt to equity ratio benchmarks, as some industries tend to use more debt financing than others. […]

It might be that the company has successfully managed to negotiate better payment terms which allow it to make payments less frequently, without any penalty. If a company’s accounts payable balance grows, the company’s cash flow increases (and vice versa) — albeit, the obligation to pay in-full using cash is mandatory. Although some people use […]

It records where cash is going, as well as where it’s coming from. The following discussion breaks the accounting cycle into the treatment of individual transactions, and then closing the books at the end of the reporting period. The accounting cycle is a series of eight steps that a business uses to identify, analyze, and […]

From vineyard management to distribution, the financial landscape can be as intricate as a fine vintage. Based on your winery’s unique requirements, we will customize an accounting solution specifically for you. When calculating labor costs, it can be difficult to pin down the pay of executives and owners to any one specific department, let alone […]

All data transferred online is protected with 128-bit SSL encryption. With QuickBooks Online Advanced, you can also restore a version of your company data based on a chosen date and time. Access your books, anytime, anywhere, so you’re always on top of your business’s financials. You can cut down on a number of costs, whether […]

Also included with every plan is Sage’s own cybersecurity offering, which will keep tabs on your business credit score and monitor for data breaches. Business owners working in construction or manufacturing may be especially drawn to Sage 50’s advanced inventory, job costing, reporting and budgeting capabilities. Here are NerdWallet’s picks for the best small-business accounting […]

QuickBooks provides excellent accounting software for small to medium-sized construction businesses. You get functionalities such as invoicing, income management, expense tracking, and tax preparation. Easily manage your clients, vendors, and employees with this app by automating your processes. To compare various construction accounting software platforms, https://www.online-accounting.net/ we collected a proprietary set of data points to […]