Organise your finances in one secure, automatically backed up place and work anytime from any device. Connect your QuickBooks account to your eCommerce platform apps like Shopify, eBay, BigCommerce, Wix, and more to sync products and stay on top of your small business orders. Learn to create meaningful reports and assess your business’s financial health […]

Negative cash flow from investing activities might be due to significant amounts of cash being invested in the company, such as research and development (R&D), and is not always a warning sign. This can be cash received from a gain on an investment, or cash issued to buy an investment instrument or purchase fixed assets. […]

These include payroll, HR, performance management SuiteCommerce, demand planning, manufacturing, fixed assets management and contract renewals. For instance, an ERP system consolidates donor, volunteer and member information in one place, reducing errors from manual data entry as well as data inconsistencies, while fostering more efficient communication and engagement strategies. ERP systems also automate routine tasks, […]

Very Nice “lesson learned”, the entire first two topics (what are accrued wages, and Accounting definition on Accrued wages) helped in concept understanding of the subject and its implication with GAAP. The following are the two conditions when salary expenses are treated as either an asset or a liability. This expense is neither an asset […]

Marshall says his typical grocery bill is now about $120 to $130, up from just $70 to $80 three years ago. To keep his electricity costs down, he only occasionally turns on the heat in his apartment. They are all used to craft different mods, weapons, and augmentations, and are completely separate from a premium […]

As revenue increases, more resources are required to produce the goods or service. COGS is often the second line item appearing on the income statement, coming right after sales revenue. A business needs to know its cost of goods sold to complete an income statement to show how it’s calculated its gross profit. Businesses can […]

If you’re unsure of your asset’s useful life for book purposes, you can’t go wrong following the useful lives laid out in the IRS Publication 946 Chapter Four. Useful life is the number of years your business plans to keep an asset in service. It’s just an estimate since your business may be able to […]

And likewise, your teammates can’t just wander in and ask simple questions. Which can certainly be annoying, but it’s better than dealing with bigger issues down the line. In this post, you’ll meet Spendesk’s in-house accountant Eva Tourki. She can operate from anywhere, safe in the knowledge that everything she needs is available with just […]

When you sell a business, you will probably have different assets (like real property, shares of stock, etc.), and each might have a different capital gain or less. Each asset must be treated as being sold separately for determining capital gain or loss. At its simplest, for example, if you earn $50,000 a year as […]

In decentralized organizations, profit centers have the responsibility of producing a profit. This means the manager of the profit center makes decisions over revenue from goods and services offered by the company as well as controlling costs. Profit center managers’ performance is often evaluated by comparing the actual profit to targeted or budgeted profit. There […]

Accrual accounting may indicate that a business generated profits during a specific accounting period while the recorded cash flows are yet to be received. Potentially, it can portray the business as profitable even when it lacks sufficient cash flow to finance its operations. In cases of extreme cash flow shortages, the business may even become […]

This ratio may provide a more favorable picture of a company’s financial health if it has taken on significant short-term debt. In examining either of these ratios, it is important to remember that they vary widely across industries. A proper analysis should compare these ratios with those of other companies in the same industry. The cash […]