Bookkeeping

If you’re not using cloud-based accounting software like QuickBooks that automatically backs up your data, back up your financial data manually every day. Doing so gives you peace of mind that you won’t lose your data if you have a hardware failure, file corruption, or...

Monitoring the times interest earned ratio can help you make informed decisions about generating sufficient earnings to make interest payments, and decisions about taking on more debt. Solvency ratios determine a firm’s ability to meet all long-term obligations, including debt payments. The TIE ratio varies...

The thing is, these people don't ever actually see any money from these shares. The reason net points are given so liberally is because they are, by all accounts, essentially meaningless. To ensure that there are no net profits in Hollywood, movies are contractually designed...

We strive on working closely with our local businesses to ensure they have the upmost confidence in our business accounting and tax accounting abilities. Being a CPA in North Seattle isn’t easy as we know there are a lot of options when it comes to...

Use tools like credit checks and customer payment histories to minimize risks. With 72% of business owners planning to invest in growth in 2025, keeping your cash flow in check is crucial to making those plans a success. In effect, the amount of real cash...

Small Business Saturday can encourage foot traffic in locations with multiple shops. Draw in passers-by with a festive storefront and signage indicating any special promotions. What they can do though is add a unique ‘human touch’ to their shopping experience. When most of our...

As a result, the company tries to match the cost of goods sold with the market prices. Varying inventory valuation methods are used by different business organizations. The most commonly used methods are FIFO (First-in First-out), LIFO (Last-in, First-out), and Weighted Average cost. Use of specific...

When setting prices, businesses must consider both covering variable costs and contributing towards fixed overhead. Variable costing data helps determine the contribution margin needed per unit to achieve desired profit goals. For example, if variable costs per unit equal $5 and desired fixed cost coverage...

They are particularly useful for measuring the length, width, and height of objects, as well as distances between points. For example, centimeters are commonly used to measure the size of clothing, the length of a pencil, or the width of a book. Centimeters are a...

Ultimately, the company’s management and board of directors decides how to use retained earnings. Don't forget to record the dividends you paid out during the accounting period. It's important to note that retained earnings are cumulative, meaning the ending retained earnings balance for one accounting...