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
Assets are recorded in the journal at what they cost the business, or what the business paid to acquire them. The inventory turnover ratio indicates how many times inventory is sold and replenished during a specific period. It’s calculated as c... Read more
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
However, obtaining services from trusted vendors in a smooth, timely fashion doesn't have to be too good to be true — it is possible, and using purchase orders can help. The PO number is included on the packing slip so the buyer can easily track whic... Read more
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
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
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
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
However, since the business is yet to provide actual goods or services, it considers unearned revenue as liabilities, as explained further below. This is money paid to a business in advance, before it actually provides goods or services to a client. ... Read more
Although you can prepare a trial balance at any time, you would typically prepare a trial balance before preparing the financial statements. A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list... Read more
