Category: Bookkeeping

A solvent is usually a liquid but can also be a solid, a gas, or a supercritical fluid. Water is a solvent for polar molecules, and the most common solvent used by living things; all the ions and proteins in a cell are dissolved in water within the cell. The solute is the component of… Continue reading Types of Solvents Benene, Acetone, Water, Alcohol

Make sure everyone with access to petty cash funds knows what they’re for, and provide some examples of typical petty cash expenses to make sure there’s no confusion. To use petty cash, simply grab however much cash you need from the lockbox (say, $10). You need to make a last-minute courier delivery, and the post… Continue reading What is Petty Cash and How to Manage it?

Bookkeeping is a crucial function of accounting, and earning a bookkeeping certification is a great way to show employers your expertise. While a certificate is not a requirement to become a bookkeeper, some professionals pursue certification to show their skills to employers and stand out in their job search. A proper financial data management system… Continue reading Bookkeeping 101: Bookkeeping Basics for Small Businesses

Many early-stage companies prioritize sales growth, while late-stage companies more often focus on revenue growth. The level of competition in an industry is a major factor affecting a company’s Revenue. In a highly competitive market, companies have to set lower prices to attract customers away from rivals. What are Some Examples of Revenue Accounts? If… Continue reading Revenue Definition, Formula, Calculation, Revenue vs Income

Ultimately, the Bookkeeper’s responsibilities are to accurately record all day-to-day financial transactions of our company. This Bookkeeper job description template is optimized for posting on online job boards or careers pages. Add your specific bookkeeping responsibilities to attract the most qualified candidates for your company. Bookkeepers focus on day-to-day transactions and operations, whereas accountants are… Continue reading What Is Bookkeeping? Duties, Pay, and How to Become One

The debt to capital ratio formula is calculated by dividing the total debt of a company by the sum of the shareholder’s equity and total debt. A company’s total debt is the sum of short-term debt, long-term debt, and other fixed payment obligations (such as capital leases) of a business that are incurred while under normal… Continue reading What Is the Debt Ratio?

With your accounting software and data stored online in the cloud, you can access your up-to-date accounts anywhere there’s an internet connection. Your Xero data is backed up regularly and protected with multiple layers of security. After you start a free 30-day trial of Xero, you’ll activate the account and provide details about your business.… Continue reading Online Accounting Software Small Business Accounting

These components offer valuable insights into a company’s financial health, profitability, and capital management decisions, aiding stakeholders in making informed investment and operational choices. Ultimately, the closing balance of retained earnings is the statement’s final figure, representing the accumulated profits or losses after all adjustments for the period. It reveals how a company has utilized… Continue reading Statement of Retained Earnings Example Excel Template with Examples

They typically appear under “Operating Expenses” or “Selling, General & Administrative Expenses” on income statements. You can use this data to make more precise budgeting decisions in the coming year and determine whether there are certain categories that need more detailed expense reporting. This might include ordering new business cards or purchasing small promotional items… Continue reading Common Examples and Definitions of Miscellaneous Expenses

Its base sales tax rate of 6.00% is higher than that of any other state, and its top marginal income tax rate of 12.3% is the highest state income tax rate in the country. The Golden State fares slightly better where real estate is concerned, though. The average homeowner pays just 0.71% of their actual… Continue reading Find a Sales and Use Tax Rate