Category: Bookkeeping

As mentioned above, the PV of an annuity due is calculated by multiplying the annuity cash flow with the discounted PVIFA of an ordinary annuity. Let’s assume that ABC Co is considering choosing an option whether the annuity due or ordinary annuity. ABC Co is considering a stream of periodic equal cash flow of $500… Continue reading Present Value of Annuity Calculator

T-accounts, those trusty tools of the accounting trade, are indeed quite helpful in illustrating the movement of funds within a business’s various accounts. But, like any tool, they have limitations, which are crucial to recognize to ensure accurate financial reporting and decision-making. Reconciliations are especially important for audits, as auditors verify that financial statements are… Continue reading Guest Post Part 1 of 4 How Proactive, T-Shaped Account Leaders Drive Revenue Growth 4As

Alternatively, you can spread out your winnings over three decades – which would come with federal and state tax liabilities, but on the whole, attract a much smaller federal tax rate. Let’s say that you’re a single filer making $45,000 a year, and won a whopping $100,000 in the Powerball lottery. That raises your taxable… Continue reading Lump sum and annuity payouts

When inventory items are acquired or produced at varying costs, the company will need to make an assumption on how to flow the changing costs. One of the most significant advantages of departmentalizing manufacturing overhead is that it allows a company to see where its money is going at a glance. For example, suppose your… Continue reading Manufacturing Overhead: Definition, Formula and Examples

These innovative payment methods include added features to help track payments, making budgeting that much easier. Budgeting is essential to make sure that you have enough income to cover your expenses. Planning your finances in advance is vital because you want to have enough money during certain times of the year. Line-item budgeting is perfect… Continue reading A Comprehensive Guide to Creating a Church Budget

Companies with high fixed cost structures (SaaS, Manufacturing) can grow revenues without growing expenses as much, meaning the net income expands faster. Isolating marketing as a % of sales, MER, or ROAS, or however you choose to assess marketing efficiency, will quickly enable you to identify trends and seasonality within your business. A well-organized COA… Continue reading Startup Accounting Services, Tax & CFO Support

Keeping the retained earnings account up-to-date is important for investors and lenders who need to track the company’s performance over time. In the retained earnings account, bookkeeping bookkeepers monitor any profit the company makes that isn’t paid out to owners and investors. Bookkeepers track the materials and goods purchased for the business in the purchases… Continue reading 7 Free Online Bookkeeping Courses with Certificates in 2025

Despite a growing sense of doom and gloom in the field, Okta CEO Todd McKinnon isn’t buying the idea that software engineers are on their way out. But certainly, the access to talent would be unconstrained if recruiters offered flexible work, he said. A significant gap exists between employee expectations and employer practices regarding work… Continue reading How to Get a Position in an Accountancy Firm as a Bookkeeper: Essential Steps for Success