As a best business practice, we recommend periodically performing self-audits and comparing the Calculated Inventory to the Actual Inventory on hand (i.e., do a physical count). If those discrepancies are significant, we recommend bringing in an accounting Sherlock to drill down into your records and investigate the story. All of this will help you in […]
As a technique, scenario analysis involves computing different reinvestment rates for expected returns that are reinvested within the investment horizon. Using a tool like Layer, you can easily bring together data from different sources and in different formats. It’s possible to work comfortably with complex models and multiple sources of data. You can set up […]
This process is similar to the overhead allocation process you learned in studying product, process, or activity-based costing. Management knows how much the materials will cost and integrates this information into the schedule of expected cash disbursements, which will be shown in Prepare Financial Budgets. This information will also be used in the budgeted income […]
QuickBooks Online lets you perform bank reconciliation without importing your bank activity. Xero also makes it easy to see a summary view of all your invoices and their current status. You can pull these reports or schedule them to run at a specific time, like every quarter. It’s tempting to go for the cheapest plan, […]
When businesses fail to follow up on outstanding invoices or are inconsistent in their billing practices, it can erode customer trust. Customers may begin to question the business’s reliability and credibility, leading to a loss of trust and potentially damaging the relationship. When compared, it reveals that Company ABC is giving their clients nearly double […]
The purpose of closing entries is to merge your accounts so you can determine your retained earnings. Retained earnings represent the amount your business owns after paying accounting expenses and dividends for a specific time period. Income summary effectively collects NI for the period and distributes the amount to be retained into retained earnings. Because […]
FIXE works with Gusto, ADP, Square, Toast and Paychex for payroll processing. With FIXE’s weekly vendor invoicing, you only need to take a picture of the invoice, and FIXE will file it and write a check to pay the vendor. There is no onboarding fee and, for most clients, onboarding to FIXE is completed within […]
QuickBooks Online lets you perform bank reconciliation without importing your bank activity. Xero also makes it easy to see a summary view of all your invoices and their current status. You can pull these reports or schedule them to run at a specific time, like every quarter. It’s tempting to go for the cheapest plan, […]
The new factory would enable the automaker to increase the number of cars it produces and increase profits. Instead of being limited to only the $5 million from investors, the company now has five times the amount to use for the company’s growth. Investors must be aware of their financial position and the risks they inherit […]
The application needs to be submitted via the ACRA online portal, which requires a SingPass. Our Foreigner Incorporation Package designed for foreign entrepreneurs and foreign companies is the most popular option. The cost of the first-year service bundle is S$3,100, inclusive of official government fees. A free copy of Business Profile for your business will […]
Recent Comments