Bookkeeping

During your last budget review meeting of each quarter, review your financial data more closely and take more time to visualize the current and future state of your organization’s activities. At the end of the year, use this year’s budget and review resources to inform next year’s budget, along with your statements of activities and […]

It represents the amount of product lost or wasted due to defects or inefficiency in the manufacturing process after it what is standard costing reaches the final production stage. The basic objective of standard costing is to measure the differences between standard costs and actual costs, and analysing them to maintain the productivity of the

A higher ratio typically indicates that the company is efficiently using its assets, while a lower ratio may suggest underutilization. This metric is especially useful for comparing companies within the same industry to evaluate operational performance. That said, a higher ratio typically indicates that the company is more efficient in using its assets to generate

Paying electronically is quick, easy, and faster than mailing in a check or money order. The SSA offers online service at SSA.gov/employer for fast, free, and secure online W-2 filing options to CPAs, accountants, enrolled agents, and individuals who process Form W-2 and Form W-2c. If you made all FUTA tax deposits on time, you

Listen to them without judgment, validate their feelings, and help them find professional resources when needed. Sometimes, simply being present can provide comfort and reassurance. If you have many conflicting feelings at once, emotional overwhelm can be especially likely. Whether consulting with a mental health professional, joining a support group, or simply starting a conversation

Cost of Sales Definition, Formula How to Calculate? In manufacturing sectors, the calculation is employed to confirm that production costs are covered and profits are secured, enhancing the business’s sustainability and growth potential. Often, people forget to include all manufacturing expenses when figuring out cost of goods available for sale. Each item has its own

Join QuickBooks ProAdvisor Program With Steph’s Books, you get real people that are invested Quickbooks Proadvisor Program in growing your business every day. We are confident in our ability to streamline the operations and bookkeeping side of your business. With expert bookkeepers who are reliable, caring, and resourceful, you can trust our team. Benefits that

We estimated that each home would require 400 direct labor hours and each direct labor hour would cost $20. A favorable efficiency variance indicates that fewer labor hours were used than the standard allowed. This could reflect improved worker productivity, better supervision, or process improvements. Analysis They pay a set rate for a physical exam,

The key differences include automation of entries, real-time updating, integration capabilities, and access control—all areas where dedicated accounting software packages tend to excel beyond Excel. This combo is ideal for e-commerce bookkeeping automation, it offers seamless integration with multiple sales channels, accurate tax compliance, and efficient cost of goods sold (COGS) tracking. Designed specifically for

What is Bad Debt Expense in Accounting? Complete Overview for Businesses There are several methods used to calculate this expense, with the two most common being the percentage of sales method and the aging of accounts receivable method. Both methods allow businesses to estimate the amount of their receivables that are likely to go uncollected.