Category: Bookkeeping

While consignment selling can be lucrative, there are some potential downsides. Items might not sell as quickly as you’d like, or they could be damaged while in the store’s care. Hand market is set to hit a value of $70 billion by 2027, growing nine times faster than traditional retail clothing. These include clothing, athletic…

It also features automated collections management, instant payment/invoice matching, and enhanced AR intelligence tools. After extensive research and leveraging my experience, I’ve shortlisted and reviewed the best accounts receivable automation software to help you optimize your collections process. Fundbox is a unique software compared to the rest of the solutions on this list. It’s an…

Contractors and real estate developers use GAAP construction accounting to  increase their financial accountability and provide valuable peace of mind to customers. A construction accounting software will have the same features as a general accounting software but then include industry-specific modules for construction. Better record keeping via time tracking, material costs, change orders, and subcontractor…

This unique mutual structure aligns Vanguard interests with those of its investors and drives the culture, philosophy, and policies throughout the Vanguard organization worldwide. As a result, Canadian investors benefit from Vanguard’s stability and experience, low-cost investing, and client focus. Generally speaking, this means that your income is divided into portions called brackets, and each…

Despite their seemingly similar nature, there are a lot of distinctions between these two practices; quite a few important ones, too. In this article, we’ll simply explain all of them—read on to find out everything about financial and managerial accounting. A Certified Management Accountant (CMA) practices managerial accounting, while a Certified Public Accountant (CPA) practices…

Liabilities are a company’s financial obligations, which include both short-term and long-term debt. Assets are a company’s financial resources — in other words, anything that is cash or could likely be converted to cash. Each section of the balance sheet — assets, liabilities, and equity — provides a different view into the company’s finances. Proper…

Negative goodwill is usually seen in distressed sales and is recorded as income on the acquirer’s income statement. If a company assesses that acquired net assets fall below the book value or if the amount of goodwill was overstated, then the company must impair or do a write-down on the value of the asset on…

Examples may include a recession, or if there’s disruption somewhere in your supply chain. If you’re developing a hypothetical, or pro forma, income statement, you can use historical data from previous years’ income statements. You can also do a comparative analysis of two different income statement periods to come up with your figures. What Is…

The balance sheet is an essential financial statement that provides a concise overview of a company’s financial position. It presents the assets, liabilities, and equity, offering valuable insights into the company’s resources, obligations, and ownership structure. The balance sheet, a cornerstone of financial statements, serves as a snapshot of a company’s financial well-being at a…

Our robust small business accounting reports are easy to use and show month-to-month or year-to-year comparisons so you can easily identify cash flow trends. Transactions will appear in your bookkeeping automatically, and you’ll say goodbye to manual receipt entry. On top of that, double-entry accounting software enters debits and credits for you so you don’t…