by chrism | Oct 11, 2023 | Bookkeeping
As an accountant or a business owner, it’s your job to be proactive in order to avoid this risk or notice it as soon as possible to minimize potential damages. Once you’re done, you should see a difference of $0, which means your books are balanced. We’re going to...
by chrism | Oct 5, 2023 | Bookkeeping
When your employee submits a W4-form, you will be able to calculate the exact amount of taxes you need to withhold. Don’t worry – excellent payroll software will work this out for you. The first category is known as “withholdings” because these expenses are “withheld”...
by chrism | Oct 5, 2023 | Bookkeeping
However, wages and employment costs are often one of bank reconciliation out of balance your biggest expense categories too. So, keeping track of how much money it costs to pay your employees is essential. The IRS and state agencies have specific deposit schedules for...
by chrism | Oct 25, 2022 | Bookkeeping
Knowing a company’s number of shares outstanding is key when calculating critical financial metrics and determining share value as a portion of ownership. Shares outstanding is a financial number that represents all the shares of a company’s stock that...
by chrism | Jul 19, 2022 | Bookkeeping
Organizations that produce unique or custom products or services typically use a job-order costing system. For example, a construction company specializing in new home construction uses a job-order costing system. The costs for direct material, direct labor, and...
by chrism | Jul 18, 2022 | Bookkeeping
In practice, job-order costing is used by companies that produce unique, custom-made products or services. By accurately calculating the cost of each job or order, companies can determine the selling price of the product or service and make informed business...
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