Bookkeeping

Content Join the QuickBooks Live Bookkeeping Team Financial Operations Manager (FOM) Bookkeeping & Data Entry All Remote – All the Time Part-Time Medical Assistant Jobs: Best Ways to Apply Join Our Award-Winning Team What Does a Bookkeeper Do for Your Small Business? The main difference between full-time and Part-Time Bookkeeping lies in the hours worked …

Intuit Bookkeeping Expert Careers Remote Bookkeeping Jobs Quickbooks Live Read More »

Creditors are people who extend lines of credit to the company, so creditor money would flow OUT of the business to pay back the loan. Debtor and creditor in contract law refers to the two parties concerned with the borrowing and lending of funds including bank loans, bond sales, notes payable and credit extended. The …

Debtors and Creditors Read More »

A company might be in financial distress if it has too much debt, but also the maturity of the debt is important to monitor. Investors should consider whether the business could afford to cover its short-term debts if the company’s sales decreased significantly. Accounts payable is typically one of the largest current liability accounts on …

Things you should know about Debt vs liability Read More »

Fixed costs are one-time purchases for things like machinery, equipment or business real estate. Below is a breakdown of contribution margins in detail, including how to calculate them. To perform a more detailed analysis on either a quarterly or year-over-year (YoY) basis – or comparisons to comparable companies in the same industry – the CM …

Difference between Contribution Margin and Gross Margin Read More »

However, contribution margin should be viewed in conjunction with overheads and your growth rate. A high contribution margin could mean you’re not investing enough in growth, and a low contribution margin could mean you’re burning too much cash. Accordingly, the net sales of Dobson Books Company during the previous year was $200,000. In the meantime, …

Difference between Contribution Margin and Gross Margin Read More »

So how do sales tax exemptions and non-taxable sales factor into this question? First, sales tax exemptions occur when your customer has a valid reason to not pay sales tax in a state – maybe they are a non-profit or are buying good for resale. Exemptions must be documented with any state where your customer …

Solved: Do I include sales tax collected from customers in my gross sales on schedule C? Read More »

The good news is they only want exempt and non-taxable sales that occurred in their state. The terms gross sales and taxable gross sales are not the same and can make a huge difference in determining the profits of a company. Total sales (also known as gross sales) is the sum of all of your sales, …

Do I Include Sales Tax In Gross Receipts For Taxes Read More »

You also have enough safety stock units – to cover problems with Supplier B (or any point along the supply chain) or a sudden increase in demand. As the name suggests, safety stock is the inventory you keep on hand “just in case” there’s an issue with selling or receiving your inventory. A reorder point …

Reorder Point Formula: A Quick Guide Read More »

Your suppliers might also carry their pressure points that can change at any moment. Market conditions might gradually or suddenly move in unexpected directions. Do it well, and this results in not just a balance in your inventory, but better management and cost reductions. You’ll always have enough stock to sell because you know when …

Reorder Point Guide: Formula + How to Calculate 3 ROPs Read More »

Generally, you can deduct on Schedule A (Form 1040) only the amount of your medical and dental expenses that is more than 7.5% of your AGI. Medical care expenses must be primarily to alleviate or prevent a physical or mental disability or illness. They don’t include expenses that are merely beneficial to general health, such …

Is Insurance Expense Debit Or Credit Read More »