Category: Bookkeeping

Contents: How do you fix ERP variance miscalculations? Standard Costing Objectives of Using Standard Costing System Difficult to get information on specific units Standard Costing Disadvantages Are there tools to improve the analysis and presentation of variances?- Standard Costing Companies will use standard costs as a benchmark when setting prices or making decisions. Standard costs…

Contents: FOB Shipping Point vs. FOB Destination: What’s the Difference? Free On Board (FOB) Shipping: Meaning, Incoterms & Price in 2023 Forget perfection, focus on reducing supply chain risk in 2023 What is the FOB Shipping Point? Let’s Talk FOB Shipping Points FOB Incoterms & More In that case, just know what method to use…

Content How e-Commerce Businesses Benefit From Using Clearing Accounts Best Practices for Clearing Accounts Thank you for choosing Windward Software Cash Clearing – Accounting Entries The source of the debit side is new deposits posted from the Cash Receipting program. Shoppers expect the same experience online as they do in-store. Your Point of Sale and…

Content Start using Landlord Studio for free Part 1 of the Schedule E Form Managing your taxes with the cash accounting method How To Become A Property Manager: The Ultimate Guide While financial reports are made to the IRS during tax season, the IRS may request more detailed financial records if your company is selected…

Content How to record an in kind donation? Free Resources How should I recognize in-kind donations? How to Increase Your In-Kind Donations Have a designated team/person for accepting donations For a nonprofit, it is a best practice to send the donor a written acknowledgment that includes the name and EIN of the charity, as well…

Content Free Up Cash for Operating Costs How Nonprofits Can Ask for In-Kind Donations How to Report In-Kind Donations When Filing for Taxes In Kind Donation FAQS What Popular Matching Gift Companies Say About In-Kind Gifts A gift acceptance policy will make it clear to fundraisers and donors what they should focus on. Check out…

The date of disbursement of the salary is usually determined by the company and in some cases in conjunction with the recognized Workers Union. Additionally, overtime pay of time-and-a-half is not usually offered for working more than 40 hours per week. This depends on the agreements made in the employment contract between the company and…

Before making any changes, check their contract, if they have one, to ensure you are not bound to keep them at their original classification. You can convert an hourly employee to a salaried employee as long as the worker meets FLSA requirements and state laws that qualify them to be exempt. You can decide to…

Content How to find the standard deviation of Lead time? Lead time Reorder Point Don’t rely solely on the reorder point formula Extensiv Order Manager’s Reorder Point Calculator Let Upper Improve Your Delivery Efficiency How Do You Calculate Reorder Point? Once inventory levels reach the reorder point, this triggers the replenishment process to reorder that…

Content What Are Progress Billings? 705-1 Financial and cost accounting records. Gross Amount Due to / From Customers How Does Retainage Work? Retainage Explained Should You Include Legally Withheld Money in a Mechanics Lien Claim? How to Leverage Your Lien Rights When Dealing with Retainage Because production can be less predictable, contractors often aren’t able…