Category: Bookkeeping

Payment methods can range from cash and cheque to direct deposit or bank transfers. Read our guide on payment methods for independent contractors for more information. A W-2 employee is a payroll employee who gets paid a standard wage, has set hours, and receives employee benefits and other forms of compensation. In fact, if you […]

The double-entry practice ensures that the accounting equation always remains balanced, meaning that the left side value of the equation will always match the right side value. Assets include cash and cash equivalents or liquid assets, which may include Treasury bills and certificates of deposit. For example, if a company becomes bankrupt, its assets are sold and these funds are […]

This would include the monitoring of material moved into and out of stockroom locations and the reconciling of the inventory balances. It also may include ABC analysis, lot tracking, cycle counting support, etc. All of these practices leads to optimal product storage, helping minimize holding and handling costs. See advice specific to your business That […]

Ownership interests in a corporation may be sold to third parties without disturbing the continued operation of the business. Corporations cost more to set up and run than a sole proprietorship or partnership. For example, there are the initial formation fees, filing fees and annual state fees. A corporation can only be created by filing […]