Categoría: Bookkeeping

It should be noted that if an account is normally a debit balance it is increased by a debit entry, and if an account is normally a credit balance it is increased by a credit entry. So for example a debit entry to an asset account will increase the asset balance, and a credit entry… Seguir leyendo Normal Balance of Accounts

Some of those are fixed costs which can be used to allocate your overhead for this year. This is crucial to generate job estimates that are as close to your actual cost as possible. The next step is to decide on an activity level that causes you to incur each overhead cost. 📆 Date: May… Seguir leyendo Cost Accounting Methods: Job Order Costing vs Process Costing

The Ultimate Planner is a printed planner designed to make every small business owner’s life just a bit easier. Sales have been great, but they are now in a position to really get down to ensure that they are making money on each planner they sell. At Vantage-CFO Financial Services, we specialize in helping businesses… Seguir leyendo Job order costing vs process costing similarities and differences

You also need a “Set Up Employee Data” tab from which your payroll calculations can pull standard information, such as pay rate and benefits enrolled. It’s important to keep this tab up-to-date so you can easily link to each payroll month tab. For very small businesses that operate in states without complex labor and tax… Seguir leyendo How to Calculate Hours and Minutes for Payroll in Excel using AI

Retained earnings are the cumulative profits that a company has kept (retained, or reinvested) rather than distributed to shareholders as dividends. They represent the company’s accumulated earnings since its inception, minus all dividend payments. Understanding how retained earnings evolve allows business owners and investors to grasp a company’s financial health and ability to grow or… Seguir leyendo Free Editable Statement Templates in Excel to Download

As such, the Index rewards states with the minimum one year required to earn an experience rating and penalizes states that require the full three years. These taxes are levied on employers when a state’s unemployment fund falls below some defined level. Twenty-nine states have a solvency tax on the books, though they fall under… Seguir leyendo United States Income Taxes Ranked by State

Income is subject to the $10,000 individual SALT cap through the end of 2025, though some pass-through business owners can use workarounds to take full SALT deductions. Some may argue that limiting corporate SALT deductions would equalize the treatment of corporate and pass-through business taxes paid to states and localities. However, neutral treatment could also… Seguir leyendo How the 50 States Rank By State and Local Tax Rates in 2025

They also reduce the risk of human error, ensuring that financial reports remain accurate and compliant. Companies, organizations, and individuals use balance sheets to easily calculate their equity, profits, or net worth by subtracting their liabilities from their assets. A balance sheet also serves as a company or organization’s financial position over specified time, such… Seguir leyendo Profit and Loss Statement Template for Excel Free Download

The Free Balance Sheet Template that you see above is a wonderful example of a professionally designed balance sheet that you can download for free from the Office portal. A profit and loss statement template is only a small part of the financial coverage found on our blog. For those who care to read more… Seguir leyendo Free Excel Financial Planning Templates: Business & Personal

Additionally, outsourced accounting is flexible, so you only have to pay for the services you need when you need them. And, you can always adjust your services—opting for more or less as your business evolves. Outsourced accounting, on the other hand, is when you hire a third party to handle the financial functions of your… Seguir leyendo Pros and Cons of In-House vs Outsourced Accounting