Category: Bookkeeping

Employers with hourly wage earners need to know how to calculate overtime to ensure that they are paying employees the right amount and complying with the FLSA. The rate is one and a half times the normal pay rate the employee earns. Employees can be scheduled to work up to 40 hours per week as…

Some businesses will appreciate this guarantee that the service stands behind its work. Small businesses often schedule video appointments once or twice per month to discuss questions and to review results. You’re limited to one scheduled appointment at a time and appointments have to work within your bookkeeper’s schedule. Communications that are available any time…

If you’re even a little curious about accounting and finance, you gotta know your way around one. We’re diving into the nitty-gritty of current assets, non-current assets, current liabilities, and long-term liabilities. If the company has inventory, the opening balance equity account should be adjusted to reflect the correct inventory value. This can be done…

If the cumulative cash flow drops to a negative value some time after it has reached a positive value, thereby changing the payback period, this formula can’t be applied. This formula ignores values that arise after the payback period has been reached. Whilst the time value of money can be rectified by applying a weighted…

All you need to provide is the expected future value (FV), the discount rate / return rate per period and the number of periods over which the value will accumulate (N). Once these are filled, press “Calculate” to see the present value and the total interest accumulated over the period. If offered a choice between…

Make sure your team spends allocated time regularly with your bookkeeper the time spent on each project. With the complex steps involved in each phase of interior design, it makes sense if your bookkeeper is one with an eye for interior design bookkeeping details. Houzz Pro offers two options for online payments – ACH Bank Transfer and Credit Card payments.…

Premium Subscription Plans provide access to additional features not otherwise available under the Basic Plan and are available on a monthly basis or in a Premium Package. To provide location-based features with our Services, we may collect, use, and share landscaping bookkeeping precise location data, including the real-time geographic location of your mobile device. Where…

It’s common for companies, especially business-to-business companies or service providers, to allow customers to buy products or services on credit. This means that there is a period of time during which the company can expect to be paid a certain amount of money but cannot access it until the customer pays the bill. The next…

However, with a pragmatic budget and a lot of preparation, you can still set yourself up for long-term success. For example, every lawyer could get by using their local law libraries for research, but if you have to research often and the library isn’t next door, investing in the subscription might be worth it. And,…

One major perk of FOB is that buyers can negotiate freight services to secure the best prices. The supplier is only responsible for providing transportation of the goods sold to a designated main shipping origin point. This point is typically a port, since Incoterms are most commonly used for international trade where goods are transported…