Category Archives: Bookkeeping

Because for calculating the ending balance of cash, the petty cash amount should be combined with the cash in hand account. The hierarchy for petty cash will be like this on the balance sheet. The size of petty cash depends … Continue reading →

All you need to do is dial 011 + the country code + the city code + the phone number. For some countries — like Canada, Puerto Rico or Jamaica — you don’t even need to dial 011. Virgin Mobile … Continue reading →

As the final step, analyze the variances to identify any differences and determine whether any corrective actions are necessary. Instead of relying on projections, rolling budgets are based on real-time data and adjustments. Having access to up-to-date financial data is … Continue reading →

Or, in simpler terms, trade receivables represent profit yet to be received, earned from selling goods and services on credit. The accounts receivable turnover ratio measures the number of times a company’s accounts receivable balance is collected in a given … Continue reading →

Content trade′ dis`count Ask Any Financial Question Definition of Trade Discount Where Should We Send Your Answer? Accounting for a Trade Discount Cash discounts are offered to customers who pay for their purchases in cash or within a specified period. … Continue reading →

Reversing entries are journal entries that are made by an accountant at the beginning of the accounting cycle. This is an optional step in the accounting cycle and if the bookkeeper wishes can skip it entirely. To illustrate the process … Continue reading →

Content Gross margin How to Calculate Gross Margin for a Service-Based Company How to Calculate Net Profit Margin What Is Gross Profit Margin? Chartered Accountants ANZ Accounting and Business Performance How do you calculate sales margins? As your business grows, … Continue reading →

Content What our clients are saying Giersch Group bookkeeping rates Full-Service Bookkeeping Premium Service Factors Influencing Bookkeeper Rates What Does A Bookkeeper Do? Just let the clock run and you know what your margin is going to be on each … Continue reading →

Therefore, many choices involve an opportunity cost – having to make choices between the two. Sunk costs should be irrelevant for future decision making, while opportunity costs are crucial because they reflect missed opportunities. That’s not to say that your … Continue reading →

Content Log in to Lawyerist.com Law Firm Accounting Services Zoho Books Consulting with an outside accounting firm is a bridge to taking some of the burden off of you and your legal team. You may be able to outsource some … Continue reading →