Bookkeeping

Look at procurement processes, mode selection, and supply chain network design. Don’t forget the KPIs, including reporting, monitoring, and logistics process improvement. Examining trends over time helps cut unnecessary costs and inefficiencies in the supply chain. Your team can also explore adopting lean inventory management practices and employing efficient warehouse layouts to cut storage costs. …

How to Calculate Cost per Unit in Excel With Easy Steps Read More »

But remember, in accrual accounting, if you use a service/get invoiced by a vendor, you’ll see it on your income statement even if you haven’t paid them yet – thus, making your operating loss different from your cash burn. The value of having someone who understands your complete financial situation really can’t be overstated. Firms …

Career Paths for CPAs Beyond Public Accounting Read More »

Certified ProAdvisors can take the What’s New in QuickBooks Online training to prepare for the recertification exam. Some states don’t allow CPE credits for QuickBooks ProAdvisor training. State boards of accountancy have final authority on the acceptance of individual trainings for CPE credit. Overall, keeping your QuickBooks certification current helps showcase your commitment to professional development …

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This depreciation is saved in a contra asset account called accumulated depreciation. The accumulated depreciation account has a credit balance and is used to reduce the carrying value of the equipment. You may want to first classify contra accounts as contra asset accounts, contra liability accounts, contra equity accounts, or contra revenue accounts before accounting …

Contra revenue definition Read More »