Category: Bookkeeping

This is due to the lightweight polyester fabric and minimal rubber outsole. These shoes also feel reasonably lightweight when wearing them around. They have slightly stiffer materials, which translates to a more noticeable feel. All in all, we were happy with the lightweight feeling of these. Less manual work and fewer errors = Time savings…

Finding an accountant with industry-specific knowledge can provide valuable insights. You can also explore career opportunities with companies specializing in financial automation, such as the careers page at FinOptimal. QuickBooks an all-in-one software is a secure, Cloud-based solution that gives you access to your accounts from anywhere, at any time. This allows you to become an…

Insurance expense is important in finance because it is a necessary cost for protecting against potential financial losses. It is also considered a fixed expense, meaning it does not fluctuate based on the level of business activity. Deductible selections play a crucial role as they represent the amount the policyholder must pay out of pocket…

Angela is certified in Xero, QuickBooks, and FreeAgent accounting software. To simplify bookkeeping, she created lots of easy-to-use Excel bookkeeping templates. Whether you’re a small business owner, student, or learning accounting, our free T-account templates can save time and reduce errors. If you set up the t-accounts for the journal entries, start by posting the…

The ability to logically analyze and evaluate information is a key bookkeeping skill. For example, Dyninno Group, a group of companies covering five sectors under one umbrella, used communication and other tests to improve its recruitment productivity by 400%. Communication is paramount for companies that expand rapidly and cover multiple sectors like finance, technology, and…

For example, a manufacturing company might renegotiate its payment schedule to align with its longer production cycles, reducing financial strain while maintaining trust with its suppliers. Longer terms also improve your working capital by keeping cash available for other operational needs. Finding the right balance between high and low accounts payable turnover ratios is important…

Companies usually create closing entries directly from the ledger’s adjusted balances. Companies could close each income statement account to the owner’s capital immediately while making closing entries. At the end of each accounting period, financial statements are prepared to determine the financial status of the company. HighRadius is redefining treasury with AI-driven tools like LiveCube…

Accounts Payable include any debts and obligations the firm owes to third parties on a more immediate timescale. Once the Purchase Order (PO) is acknowledged and approved by the vendor, they will ship the products to your warehouse or shop, along with the invoice. Automated systems can track due dates, send reminders, and integrate with…

This section compares our LSFF method with extended SSA (ESSA, Ji et al. 2023a) and extended wavelet filtering (EWF, Ji et al. 2024) for extracting time-varying signals. Both ESSA and EWF can directly process unevenly spaced time series without requiring interpolation. For ESSA, a two-year window size was applied, and the reconstruction order was determined…

To solve the problem of work-in-progress, we can calculate equivalent units of production (or “effective production”). The output of a department is always stated in terms of equivalent units of production. Since we are using FIFO method, we first include the entire beginning WIP in the cost of units transferred out and then include units…