Once you calculate reorder point and equip the buffer stock, you can ensure on-time deliveries for your customers and a quality customer experience. You can track the reorder point and ensure your customers don’t face a poor customer experience while purchasing a product from your retail website. Reorder points can assist you in transforming and […]

Paying international freelancers is more complicated than paying domestic W-2 employees, and not every provider can, well, provide that. So start by clarifying what you need in this category, then build from there. If you can’t legally pay your crew, it’s not a solution — it’s a financial timebomb. Paychex is yet another top name […]

The first major deciding factor is whether or not you want cloud-based or locally-installed software. Like other QuickBooks Desktop products, pricing is no longer disclosed online. QuickBooks no longer offers pricing details or allows purchases of Premier online. We’ll break down the difference between accounts payable vs accounts receivable the pros, cons, pricing, and other […]

Overall, compliance and best practices are essential for construction companies to ensure the accuracy and integrity of their financial records. By implementing internal controls, using software and tools, and hiring tax professionals, construction companies can improve efficiency and reduce the risk of errors and fraud. Cash flow management is critical for construction companies because they […]

Therefore, individuals, self-employed, small corporations as well as large business firms can benefit from tax write-offs. But, it must be noted that everyone can not avail of all the deductions because it is also based on several other factors like filing status, tax provisions, income, dependents, etc. A tax write-off refers to an authorized expense […]

Introducing innovative approaches to solving clients’ financial challenges or offering customized solutions tailored to their needs can make a bookkeeper stand out. While there are certain scenarios where it makes sense to have a dedicated bookkeeper (or several) on your staff, this is typically reserved for very large companies. For the vast majority of businesses, […]

Bottom Line Management will export the data and verify all figures are accurate and correct. Our expert Quickbooks Online bookkeepers can make sure all your business transactions and financial records are recorded properly. If you are a retail business and collect sales tax from your customers (end consumer), that is not your money to keep, it belongs […]

To calculate the double-declining depreciation expense for Sara, we first need to figure out the depreciation rate. Another thing to remember while calculating the depreciation expense for the first year is the time factor. It is important to note that we apply the depreciation rate on the full cost rather than the depreciable cost (cost […]

Accounts receivable, such as credit card payments, is revenue at the time of the sale. The accounting method you choose is the one you’ll continue to use when you record financial transactions down the road. The best way to handle payment processing fees is to record them separately in your accounting system. Ecommerce bookkeeping differs […]

Working closely with manufacturers on case studies and peering deeply into a plethora of manufacturing topics, Mattias always makes sure his writing is insightful and well-informed. Putting the above together, the formula for calculating the cost of goods manufactured (COGM) metric is as follows. This insights and his love for researching SaaS products enables him […]