When we record uncertain transactions in permanent accounts, it might create balancing issues. The purpose of suspense account entries is to temporarily hold uncategorized transactions. In accounting for small...
How does an organization as complex as Stanford assure that expenses are being charged consistently? The answer lies in the translation of Government regulations into University policy, communicated throughout...
The net book value of a company’s assets should, in many instances, align with these sustainability initiatives. The relationship between net book value (NBV) and asset management cannot be...
Now that you know what FICA taxes pay for, let’s look at who pays them. The FUTA rate is 6.2 % as of November 2022, but you can take...
After you’ve made all pretax deductions, you’ll move on to payroll taxes. Understanding which taxes need to be paid is a good way to start the process. The number...
Typically, bookkeepers cannot file tax returns on behalf of other companies on their own. Bookkeepers will usually prepare relevant records and tax documents, and then forward this information to...
The Premium plan is enough if you only plan to track the time and attendance of your employees. QuickBooks Time is an app you and your employees can use...
Not to mention, we’ll do it on a weekly, bi-weekly, or monthly schedule – whichever works best for you! It’s time you enjoy clean and accurate books and get...
To get the most information out of your AP turnover ratio, complete a full financial analysis. You’ll see how your AP turnover ratio impacts other metrics in the business,...
You can also track non-human resources, such as equipment, suppliers and more. Then we added the fixed manufacturing overhead for each month to obtain the total manufacturing overhead values....