Bookkeeping

Xero is an accounting powerhouse that can handle anything from freelancers to big-shot enterprises. With features like invoicing, payroll, and inventory management, it’s got all the bells and whistles. Meanwhile, FreshBooks is perfect for freelancers and small businesses that want simplicity without sacrificing functionality. When it comes to inventory management, Xero is also the name …

FreshBooks vs QuickBooks: Which One Should You Choose? Leer más »

Enabled by data and technology, their services and solutions provide trust through assurance and help clients transform, grow and operate. However, just because it’s classified differently doesn’t mean that a business opportunity can be any less fruitful than an opportunity classified as a franchise. The franchise profiles on our website will present you with a …

Franchise CPA Accounting Consulting Services Lower Taxes Leer más »

MPV occurs when an actual price paid for materials used in production differs from the given selling price for the same materials. The important thing is that the concept applies to one type of cost and other kinds of expenses. When calculating the phenomenon, one should consider several crucial elements. Price variance allows a business …

What is a Price Variance? Definition Meaning Example Leer más »

MPV occurs when an actual price paid for materials used in production differs from the given selling price for the same materials. The important thing is that the concept applies to one type of cost and other kinds of expenses. When calculating the phenomenon, one should consider several crucial elements. Price variance allows a business …

What is a Price Variance? Definition Meaning Example Leer más »

The face value of a share of stock is the value per share as stated in the issuing company’s charter. This is the minimum value that each shareholder is expected to pay per share of stock in order to fund the business. This value is usually quite low—nearly $0 per share—to protect shareholders from liability …

Par Value Stock vs No-Par Value Stock: What’s the Difference? Leer más »

The company plans to issue most of the shares in exchange for cash, and other shares in exchange for kitchen equipment provided to the corporation by one of the new investors. Two common accounts in the equity section of the balance sheet are used when issuing stock—Common Stock and Additional Paid-in Capital from Common Stock. …

What is the journal entry to record the issuance of common stock? Leer más »

Setting up QuickBooks Payments is a crucial step towards streamlining your payment processes and ensuring a seamless experience for your clients. Setting up QuickBooks Payments is a crucial step in optimizing your payment processing and streamlining your financial management. Whether you’re using QuickBooks Desktop or QuickBooks Online, initiating the setup process is relatively straightforward. By …

Where Does the Client Initiate the Setup of QuickBooks Payments? Leer más »

An accurate journal is critical to business planning, budgeting, and tax preparation. The journal states the date of a transaction, which accounts were affected, and the dollar amounts, usually in a double-entry bookkeeping method. A digital journal is a type of journal that is created and stored on a digital device, such as a computer, …

What’s a journal? University of Victoria Leer más »

Contingent assets are not recorded even if they are probable and the amount of gain can be estimated. A company involved in a lawsuit that expects to receive compensation has a contingent asset because the outcome of the case is not yet known and the dollar amount is yet to be determined. The provisions are the amount …

Reporting Requirements of Contingent Liabilities and GAAP Compliance Leer más »

Below are a few examples of the collateral you might expect to provide for different types of business funding. An asset becomes collateral security when a lender registers a charge over it, either by using a fixed or a floating charge. Use a financial institution with which you already what is collateral in business have …

What is collateral? Leer más »