Accounting Tips and Guides

Nynab Vs Quickbooks Online

Make a decision that you can stick with, as you cannot easily convert Quicken data for QuickBooks, or vice versa. Each tool has its own download and data storage specifications and the two are not compatible. No guarantees are made as to the accuracy... Read more

Vintage Yellow Accounting Practice Forms

Below are some of the accounting systems we have worked with for invoice exports. We have developed numerous stand invoice export file formats. Please review all of the below to see which one will work for your accounting system. Yellow Dog Inventory... Read more

Variable Cost Definition

Using the same example above, suppose company ABC has a fixed cost of $10,000 per month to rent the machine it uses to produce mugs. If the company does not produce any mugs for the month, it would still need to pay $10,000 for the cost of renting th... Read more

Gross Profit Vs Net Profit

You pay $20 in incoming freight charges to receive the shaving set at the store. After creating a beautiful display for the new product and opening your doors for business the next day, a customer comes in and buys the shaving set for $315. After ope... Read more

What Is Business Equity?

The reason for this difference is that accounting statements are backward-looking while financial analysts look forward, to the future, to forecast what they believe financial performance will be. There are vastly more entrepreneurs seeking funding f... Read more

Gross Margin Definition

Why do some businesses manufacture products when clearly service oriented businesses enjoy more profits? Profit Margins for a startup are generally lower because the operation is brand new, and it typically takes a while for efficiencies to be develo... Read more

The Contribution Margin Income Statement

However, book and tax amounts may differ under some systems. Where the market value of goods has declined for whatever reasons, the business may choose to value its inventory at the lower of cost or market value, also known as net realizable value. T... Read more