The difference between gross profit and net profit is when you subtract expenses. In other words, your net profit margin is your business's overall profitability, accounting for all fixed expenses and overhead.... Read more
You’ll also be able to manage accounts receivable and payable easily through this software. That said, in order to access your books online, you’ll have to purchase the cloud version of Express Accounts, which isn’t free and current... Read more
Some accountants are jacks-of-all-trades, while others specialize in certain areas. You don't want to hire someone who has never handled an audit before if you're being audited, but you probably don't need an audit expert to explore tax-advantaged sa... Read more
Expenses are recording in a different direction from revenues in terms of the accounting entry. Yet, they normally report in the different line between the cost of goods sold and general and administrative expenses.... Read more
The cash flow statement will help us understand the inflows and outflows of cash over the time period we’re looking at. Using the financial ratios derived from the balance sheet and comparing them historically versus industry averages or compet... Read more
This periodic reckoning should never come as a surprise, but rather as part of a continuous and dynamic planning process. In some cases, you’ll want to spread costs across segments or cost centers. Distributing IT expenses across multiple depar... Read more
As a result, the company would record lower profits or net income for the period. However, the reduced profit or earnings means the company would benefit from a lower tax liability. Typical economic situations involve inflationary markets and rising ... Read more
Both the mobile device expense and the corporate card expense return to the Expense Items section of the Expenses work area as two separate expenses. To create an expense report for another person, first access Expenses by using your own user name an... Read more
Maybe you’re thinking of expanding your ecommerce shop to customers in other countries. Taking your business international is heady stuff and a big step in your growth. These include white papers, government data, original reporting, and interv... Read more
The most common are horizontally and vertically structured formats. For investors, the vertical format is the easiest to read because it lists the results of multiple periods in columns next to each other.A checking account is a transactional account... Read more
