A Magento POS (point of sale) system can be seamlessly integrated with your Magento website(s) to synchronize data between your online and offline stores, streamlining retail operations. Signing up sooner to receive an exclusive and personalized demo site for testing the POS system. Our sales consultants will invest extra effort to tailor the site to […]
The salvage value is the carrying value that remains on the balance sheet after which all depreciation is accounted for until the asset is disposed of or sold. Instead of recording an asset’s entire expense when it’s first bought, depreciation distributes the expense over multiple years. Depreciation quantifies the declining value of a business asset, […]
For example, vehicles are assets that depreciate much faster in the first few years; therefore, an accelerated depreciation method is often chosen. Depreciation is the process of spreading or allocating the cost of an asset over its useful life. Over time, the asset value will decrease due business succession planning to usage, wear and tear, […]
Bench simplifies your small business accounting by combining intuitive software that automates the busywork with real, professional human support. The beginning of period (BoP) book value Bookkeeping for Veterinarians of the PP&E for Year 1 is linked to our purchase cost cell, i.e. Now that we have a beginning value and DDB rate, we can […]
Positive working capital is when a company has more current assets than current liabilities, meaning that the company can fully cover its short-term liabilities as they come due in the next 12 months. Positive working capital is a sign of financial strength; however, having an excessive amount of working capital for a long time might indicate that the company […]
This account is used to record both increases and decreases to profits resulting from errors. Payment is the transfer of one form of goods, services, or financial assets in exchange for another form of goods, services, or financial assets. Account reconcilement is the process of confirming that two separate records of transactions in an account […]
Sometimes a corporation decides to purchase its own stock in the market. A company might purchase its own outstanding stock for a number of possible reasons. It can be a strategic maneuver to prevent another company from acquiring a majority interest or preventing a hostile takeover. A purchase can also create demand for the stock, […]
However, it is important to consider the costs and benefits of listing before making a decision. Another situation that sometimes arises is that someone who loaned money to the business will agree to accept stock in repayment of the loan. In that case, no adjustment to the asset side of the balance sheet is necessary. […]
The net profit is the profit that remains after all the expenses are subtracted from the revenue. A company’s revenue is all the money it generates over an accounting period. Revenue and net sales both describe income for a company, but there are some important differences. It is the primary sales figure that analysts review […]
Full-Service Bookkeeping doesn’t include sending invoices, paying bills, or management of inventory, accounts receivable, or accounts payable. The service doesn’t include financial advisory services, tax advice, facilitating the filing of income or sales tax returns, creating or sending 1099s, or management of payroll. QuickBooks Online offers Full Service Payroll for an additional cost. Intuit Bookkeeping […]