Category: Bookkeeping

These tools reduce the burden of month-end close, simplify revenue management, and improve staff productivity. Getting your VA to do it alongside any general, administrative work you assign to them isn’t much better. Unless you have defined bookkeeping systems and processes and an in-house chart of accounts controller managing the VA, the chances of your…

The majority of companies that work with an outsourced accounting firm do so on an ongoing basis. At first, there may be a lot of work in building the financial infrastructure and accounting services. But after this initial set-up period, the relationship typically reverts to a stable monthly business cycle. If you need help with…

In the U.S., this accounting translation is typically done on a quarterly and annual basis. Translation risk results from how much the assets’ value fluctuate based on exchange rate movements between the two counties involved. Many companies, particularly big ones, are multinational, operating in various regions of the world that use different currencies. Pearson owns…

To help consumers compare retail financial products more fairly and easily, many countries require financial institutions to disclose the annual compound interest rate on deposits or advances on a comparable basis. The effective annual rate is the total accumulated interest that would be payable up to the end of one year, divided by the principal…

I signed up for a free trial of FreshBooks’ accounting software and tested it on a Mac laptop using the Safari browser. All action items were clearly labeled and I was walked through how to complete all tasks. From there, once I landed on the dashboard, I received a checklist of items to complete account…

Whether you’re a freelancer, coach, consultant, massage therapist or construction company, bank transfer is a smart way to collect payments. We assessed whether each solution offers invoicing, payment links, recurring payments, virtual terminal, and ACH reconciliation. We also considered if the processor provides Level 2 or Level 3 processing. ACH Payment Processing Frequently Asked Questions…

By utilizing ABC’s methodology, companies can pinpoint the origin of indirect costs and, in doing so, reconsider existing pricing structures and achieve more accurate cost management. Activity-based costing (ABC) is a cost allocation method that assigns costs to activity centers. This approach, activity-based costing, first identifies the activity centers in an organization. What Is Activity-Based…