Ledgers can be used to track both expenses and income, so you can see where your money is going and how much profit you are making. You can also use a ledger to track customers or clients, so you can see who owes you money and who has paid their invoices. Keeping a detailed ledger…

As outlined above, this means implementing regular account reconciliations and more frequent reviews of the general ledger. Law firms have an especially heightened interest in this area due to their use of trust accounts. Legal practices often hold client funds in trust accounts, such as for retainer fee payments or settlement funds. Most U.S. jurisdictions…

Similarly, Dollar Shave Club sends subscription customers, prompting them to “toss more in” before their refill ships. This cross-selling technique allows the razor brand to promote less-popular items as package add-ons. And hopefully, eliminate some slow-moving SKUs by marketing them to already loyal customers. During the event, aging inventory sells for up to 70% off…

The debt-to-equity (D/E) ratio is an important leverage metric in corporate finance. It is a measure of the degree to which a company is financing its operations through debt versus wholly owned funds. More specifically, it reflects the ability of shareholder equity to cover all outstanding debts in the event of a business downturn. This…

You can centralize inventory management, optimize stock levels, and do much more with a perpetual inventory system. Every time merchandise is bought or sold, the perpetual inventory system will update inventory levels automatically. This constant updating allows businesses to be aware of their best-selling goods and services and what inventory is running low on supply.…

A commuter highway vehicle is any vehicle with a seating capacity of at least six adults, not including the driver. Get to and from work while having a little fun with electric moped ridesharing. A simple and affordable commuting alternative without the hassle of gas or keys. Understand the impact of our carbon footprint while…

The application — Form W-7, Application for IRS Individual Taxpayer Identification Number — asks details about why you need an ITIN and requires you to send in certain documents to prove your foreign status and identity. An ITIN will serve as your identification number for filing your taxes. With tax professionals and Certified Acceptance Agents (CAAs) nationwide,…

If there are still some differences, these may be due to errors in either the two balances or the bank reconciliation process. The company may need to repeat the process until the balance becomes zero, or it identifies any errors. The unrecorded differences may have other items as well, such as errors in the bank…

The benefit of factoring is that the manufacturer handles the default risk instead of the enterprise. The factoring fee is considered an interest expense, while the due-from factor amount is added to the reserve account. Over the years, analysts have developed many different methods to uncover the underlying quality of a business’s accounts receivable. In…

QuickBooks’ small business accounting software allows your bookkeeper, accountant, or colleagues to log in simultaneously and work directly with your data online. QuickBooks Online is a cloud-based app that allows you to host QuickBooks software and access it through a browser or the QuickBooks app. QuickBooks is one of the most popular accounting software packages. QuickBooks Online…