Category Archives: Bookkeeping

When you receive the full payment from the customer, debit $50 to the suspense account. This closes the suspense account and moves the payment to the correct account. For suspense account journal entries, open a suspense account in your general ledger. Both suspense accounts and clearing accounts are used to temporarily record transactions, until they […]

11 Financial is a registered investment adviser located in Lufkin, Texas. 11 Financial may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. They can also handle the practicalities of buying and selling bonds, making the process easier for the investor. You don’t […]

Suppose there’s a company ZYX that is publicly listed and stock options hence, has its shares selling in the stock market. As an interested investor, you want to know if it’s a profitable buy at this price. This is the point where the valuation of the common stock comes into play. If your calculation derives […]

These resources save time and provide a consistent format for analyzing trends over periods. Instead of carrying out your collections processes manually, you can take advantage of accounts receivable automation software. Even better, when you opt for an AR automation solution that prioritizes customer collaboration, you can improve collection times even further by streamlining the […]

With their comprehensive solution and excellent support, TriNet is a trusted choice for many businesses. SurePayroll offers an easy-to-use payroll service, making it an ideal choice for small businesses. Excellent customer service is a must when dealing with something as critical as payroll. The company should provide prompt and helpful support to answer any questions […]

Invensis offers specialized construction accounting services to help construction companies manage WIP reporting. WIP reports provide an overview of the financial health of ongoing projects by calculating revenue earned and costs incurred. Our construction bookkeepers ensure accurate calculation and reporting of WIP, enabling informed decision-making and ensuring compliance with accounting standards. We have over 24 […]

So you give them a discount of 20% to make up for the inconvenience, making the final sale price $40. We’ll also assume a 10% sales tax and a $15 cost of goods sold. Some accounts are increased by debits and decreased by credits. Finally, if your state or local governments impose a sales tax, […]

If the number feels out of reach, maybe the timing isn’t right, or you need to adjust your approach. With the help of break-even analysis, businesses can set a price for its products that can cover all the costs, including fixed and variable costs. Easily calculate the break even point for any product or service […]

If an investor asks you what the impact of hiring another three salespeople is, you can tell them instantly. In contrast with the salesperson ramp-up, which increases to 100% over time, the sales cycle assumption should allocate potential revenue over future periods. As you can see, the revenue build starts with the number of salespeople […]

Beyond the skills and knowledge required to run your accounting in line with industry best practices, https://www.bookstime.com/ there are also additional benefits to working with a partner with experience in your industry. Leaders at these organizations may have a well-developed network that they’re willing to share with you. At G-Squared Partners, for example, we regularly […]