If a high volume company purchases $40,000 of goods, Car Dealership Accounting its cost will be $28,000 ($40,000 X 70%). To comply with the cost principle the company will debit Purchases (or Inventory) for $28,000 and will credit Accounts Payable…
Instead, they usually refer to discretionary purchases with no specific purpose or predetermined budget, such as tickets for entertainment events or gifts for clients. In short, miscellaneous costs don’t give a direct return on money, so they can’t be bookkeeping…
If a certain expense spiked compared to a previous month or year, this spreadsheet will tell you that in a single look. From there, you can investigate further or ask your HOA management company what went wrong. Accounting is arguably…
Legal guidelines are extremely important to follow when you are collaborating with influencers. Current rules and FTC guidelines dictate that influencers clearly and openly disclose when a post is sponsored. This does Coffee Shop Accounting not have to be done…
This post will explore the key financial considerations for new businesses and how to choose the right accounting partner to help you thrive. Maintaining healthy cash flow is crucial for any startup’s survival. Accounting firms can help you track cash…