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 […]
Category: Bookkeeping
After financial statements are published and released to the public, the company can close its books for the period. Closing entries are made and posted to the post closing trial balance. Preparing a worksheet involves aggregating the debits and credits made during the current accounting period into a spreadsheet. If the debits and credits don’t […]