par Dulac | Mar 6, 2023 | Bookkeeping
On the other hand, mid-sized ones can spend a significant amount based on the features needed. You’ll have to verify the details with your chosen outsourced bookkeeping service. It’s worth asking questions upfront to ensure you are aligned on expectations of their...
par Dulac | Juil 19, 2022 | Bookkeeping
One of the primary advantages of FIFO is that it often results in a higher valuation for ending inventory. This occurs because, under FIFO, the remaining inventory comprises the most recently purchased items, which are likely to have higher costs due to inflation. As...
par Dulac | Juin 17, 2022 | Bookkeeping
Thus, in addition to the general journal, we also have the sales journal, cash receipts journal, purchases journal, and cash disbursements journals. Many companies enter only purchases of inventory on account inthe purchases journal. Some companies also use it to...
par Dulac | Fév 17, 2022 | Bookkeeping
The cash flow older inventory, therefore, is left over at the end of the accounting period. For the 200 loaves sold on Wednesday, the same bakery would assign $1.25 per loaf to COGS, while the remaining $1 loaves would be used to calculate the value of inventory at...
par Dulac | Juil 1, 2021 | Bookkeeping
Maintaining regular communication with your provider is key to building a strong, collaborative relationship and addressing potential misunderstandings before they escalate. Set up check-ins with your provider every once in a while to discuss the partnership and...
par Dulac | Juin 1, 2021 | Bookkeeping
A good example of the change in cost of a new technological innovation over time is the personal computer, which was very expensive when it was first developed but has decreased in cost significantly since that time. The same will likely happen over time with the cost...
