Category: Bookkeeping

This voucher is used when an organization pays others for Salary and wage payment, Payment for Raw materials, Loan repayments, etc. Hence, Cash Payment Voucher and Bank Payment Voucher will be treated as the debit voucher also. The voucher check creates a paper trail for the …

Content Local Governments Layaway Sales Nonprofit Organizations Vendor Resources Local Sales and Use Tax Rates Each additional month the return is not filed, an additional 5% will be added to the penalty up to a 25% maximum penalty of the tax due. Local tax rates …

Content Business Operations How can HighRadius help reduce the number of doubtful accounts? Allowance for Doubtful Accounts: Balance Sheet Accounting Balance Sheet Method for Calculating Bad Debt Expenses Collections When this bad debt is written off, the allowance for doubtful accounts is credited by the …

Again, the financial ratio can be calculated separately for each asset type. Coverage ratios are financial ratios that measure how well a company manages its obligations to suppliers, creditors, and anyone else to whom it owes money. Lenders may use coverage ratios to determine a …

Quickbooks Online allows users to directly link undeposited funds to bank deposits, streamlining the process and providing a more accurate reflection of cash flow. On the other hand, Quickbooks Desktop requires manual management of undeposited funds, which may pose challenges in reconciling accounts and obtaining …

For consumers with a Form 1040 and a state return with no itemized deductions, the average cost of tax preparation was significantly lower, around $150 versus the above situation that averaged $273. We get it – the DIY-approach can be appealing, especially if it will …

Streamline data entry with accounting, POS, and ecommerce integrations. Track sales activity and stay on top of inventory so you can sell more. Larger breweries may enter into really long purchasing contracts for their ingredients – like, ten year contracts for hops – so that …

Augmented reality (AR) and IoT technologies can also play a significant role in the future of ERP, particularly in areas such as manufacturing, logistics, and warehousing. By integrating AR and IoT devices with ERP systems, organizations can gain real-time visibility into their operations, optimize resource …

Learn about tools and software that can help you land a fulfilling career in cloud-based operations and strategy. Enterprise resource planning (ERP) is software developed to manage and optimise business operations and processes. From increasing efficiency to better decision making, after we implement an ERP …

The contribution margin measures how efficiently a company can produce products and maintain low levels of variable costs. It is considered a managerial ratio because companies rarely report margins to the public. Instead, management uses this calculation to help improve internal procedures in the production …