And if you later decide you’re ready to make the move to the cloud, Sage offers cloud solutions as well. Maintaining bookkeeping tasks is essential for the stability and success of small businesses. With so many moving pieces (including assets bookkeeping solutions and liabilities, and income and expenses), small business owners must stay on top Read more about 9 Best Payroll Services For Small Business Of 2024[…]

As your business grows and you hire employees, you can consider whether to rent office space or keep working remotely. Bookkeepers can be certified in various financial platforms, such as QuickBooks, or via training programs. You can also choose to become a certified public bookkeeper to market yourself better as a bookkeeping professional. As part Read more about 12 Online Bookkeeping Jobs To Start Your Bookkeeping Career[…]

If you’re looking for something very cheap and simple and your business is in its very early stages, the affordability of Merritt Bookkeeping makes it a good choice. Bookkeeping is an unavoidable part of having a business because the IRS has certain rules around financial recordkeeping. Aside from staying compliant, having organized books helps you Read more about How To Start A Bookkeeping Business 2024 Guide[…]

Also commonly referred to as a general ledger, it is the repository of all of your financial transactions. Control accounts are summary accounts within the general ledger, such as “Sundry Debtors” or “Sundry Creditors.” Detailed transactions for these are kept in subsidiary ledgers. This system helps large businesses organize data and supports error checking during Read more about A Complete Guide to General Ledger Accounting[…]

When a board member asks for a cash flow statement, usually it’s because you’re losing cash. Internally you should create and use reports that give you the information you need to run your business effectively. That might mean using cash-basis accounting, tracking your gains or losses at the program level, or more. This statement shows Read more about Guide To The Non Profit Statement Of Activities[…]

Total asset turnover measures the efficiency of a company’s use of all of its assets. There is no exact ratio or range to determine whether or not a company is efficient at generating revenue on such assets. This can only be discovered if a comparison is made between a company’s most recent ratio and previous Read more about Fixed Asset Turnover Overview, Formula, Ratio and Examples[…]

Total asset turnover measures the efficiency of a company’s use of all of its assets. There is no exact ratio or range to determine whether or not a company is efficient at generating revenue on such assets. This can only be discovered if a comparison is made between a company’s most recent ratio and previous Read more about Fixed Asset Turnover Overview, Formula, Ratio and Examples[…]

Conversely, operating leverage is lowest in companies that have a low proportion of fixed operating costs in relation to variable operating costs. If the composition of a company’s cost structure is mostly fixed costs (FC) relative to variable costs (VC), the business model of the company is implied to possess a higher degree of operating Read more about How to Calculate Operating Leverage: 8 Steps with Pictures[…]

This metric is commonly used to compare companies within the same industry to gauge whether they are on par with their competitors. Recourse factoring means your company is liable if your customers default on their invoices. In non-recourse factoring, you don’t have to pay if your customers default due to specific reasons such as bankruptcy. Read more about What is Invoice Factoring & How Does it Work?[…]

In recent years increased automation in manufacturing operations has resulted in a trend towards machine hours as the activity base in the calculation. In these situations, a direct cost (labor) has been replaced by an overhead cost (e.g., depreciation on equipment). Because of this decrease in reliance on labor and/or changes in the types of Read more about What Predetermined Overhead Rate Is Formula and Sample[…]