Using reconciliation software helps boost customer satisfaction because you process payments, chargebacks, and refunds precisely and securely. E-commerce payment reconciliation is a vital part of e-commerce accounting, and you should do it at least once a week. When there are lots of unreconciled bank transactions to code, you can reconcile them in one go for […]

Your contractor will make any additional amounts due in one lump sum in the seventh month. You email an invoice of $500 each month showing the portion that is principal and the portion that is interest. When the contractor pays, the principal payment reduces the note receivable and increases cash. You book the interest payment […]

This is even more the case when you need someone specialized or need to hire someone fast. Just posting a job and vetting candidates can take a while, let alone on-boarding your new employees. QuickBooks Live experts who have moved up to Team Lead or Manager positions are eligible for full-time employment. For the average […]

Let’s say a mechanic anticipated £10,000 in profits for one month but actually generated £8,000, that would be a £2,000 unfavorable variance. In the initial stage of the ANOVA test, analyze factors that affect a given data set. When the initial stage finishes, then the analyst performs additional testing on the methodical factors. It helps […]

You reduce your dependent care expenses by the amount of these benefits. You also need to report your adjusted gross income on Form 2441 since it directly impacts how much of a credit you can take. If you hire someone to care for a dependent or your disabled spouse, and you report income from employment […]

Trying to figure out what the difference is between the services you receive for $30 per hour versus the $500 CPA fees? Now that you understand exactly which factors can influence the CPA rates per hour, it’s time to take a more in-depth look at how much CPAs charge their clients around the United States. […]

If you’re sending a digital invoice with invoicing software, you can give them the option to pay you electronically. Then, all they have to do is click a link, enter their info, and pay using one of the methods you allow, such as a bank transfer or credit card. Traditionally, freelancers how to invoice as […]

The extent and nature of the contingent liability can be explained by a footnote. A contingent liability is recorded in the accounting records if the contingency is probable and the related amount can be estimated with a reasonable level of accuracy. The most common example of a contingent liability is a product warranty. Other examples […]

The high-low method can also be done mathematically for accurate computation. This method looks at the entire cost difference between two volumes and divides the extra cost by the volume. This method has disadvantages in that it fits a straight line to any set of cost data, regardless of how unpredictable the cost behavior pattern […]

Shareholders’ equity is the total value of the company expressed in dollars. Put another way, it is the amount that would remain if the company liquidated all of its assets and paid off all of its debts. The remainder is the shareholders’ equity, which would be returned to them. The fundamental accounting equation, as mentioned […]