Category: Bookkeeping

The process of budgeting for capital investment projects and budgeting for the everyday operational expenses require different methodologies. Constraint analysis is used to select capital projects based on operation or market limitations. It looks at company processes, such as product manufacturing, to figure out which stages of the process are best for investing. Capital budgeting is […]

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 […]

Businesses routinely pay current liabilities during their standard day-to-day operations. The largest debts owed within this category tend to be accounts payable. Current liabilities are obligations that a company needs to settle within a year, whereas long-term liabilities extend beyond a year. Current liabilities are typically more immediate concerns for a company, as they are […]

Although scientific articles have changed some – for example, Isaac Newton wrote about the fun he had with prisms in a 1672 scientific article – the basics remain the same. This ensures that published research becomes part of the archive of scientific knowledge upon which other scientists can build. Strange as it seems, the most […]

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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 […]

If you need a bookkeeper to take care of all of this for you, check out Bench. We’ll do your bookkeeping each month, producing simple financial statements that show you the health of your business. After you generate your final financial statement, use your statements to track your business’s financial health and make smart financial […]

This will be the cost of rent on the factory, heating, phone and other utilities, the salary of managers, packing and shipping clerks, administrative staff and so forth. Being able to make accurate estimates of your manufacturing costs is critical to a company’s profitability and competitive advantage. Before work hits the production line, one must […]