Categoría: Bookkeeping

Proper onboarding for bookkeeping services takes about 90 days, so your partner can assemble a qualified team and prioritize assets = liabilities + equity the needs of your account. If accounting or bookkeeping services are on your radar, you probably have substantial needs. But not all firms are created equal, and they might not offer… Seguir leyendo Contact Us Ignite Spot Outsourced Accounting Services

Horizontal analysis is crucial because it helps stakeholders understand how a company’s financial performance and position have evolved over time. This analysis can reveal growth trends, identify potential issues, and provide insights for strategic decision-making. By comparing sales figures year-over-year, companies can determine growth rates and identify seasonal patterns. This insight helps in forecasting future… Seguir leyendo Horizontal Analysis Meaning, Formula, Examples

It is an important document used during refund or return of goods sold, offering incentives or rectifying billing errors. It indicates a reduction in the owed amount and facilitates business communication in a transparent manner. It includes the sales details and so the seller should periodically review all open memos to settle them. While following… Seguir leyendo What is a Credit Memorandum? Definition Meaning Example

This might be because the items received were defective, damaged, or otherwise not up to the quality standards set out in the supplier agreement. Some limitations of the process of raising a sales credit memo are given below. When a buyer receives an order that is incomplete, incorrect, damaged, or erroneously invoiced, the seller may need… Seguir leyendo Credit Memo: A Complete Guide to Credit Memorandums

The value of the retained earnings increases in a year when the company earns net income and decreases in a year when the company incurs income statement a net loss. When a dividend is declared and paid, retained earnings are reduced by the amount of the dividend. «Basically I am trying to determine how to properly… Seguir leyendo Why does shareholder distribution not reduce retained earning in QuickBooks for my S corp?