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Enterprise Resource Planning ERP: Meaning, Components, and Examples

The integration of all of a company’s information from all departments, processes, operations, etc. requires that an ERP system be very sophisticated. This in turn requires a company to commit considerable resources for planning, training, and implementing an ERP system. They want a complete solution that includes everything from cloud computing to IoT devices. With […]

Solved: What is the best way to record a customer prepayment and deposit?

These excess cash reserves make it possible for banks to buy into great investment opportunities and make more money. The customer’s deposit is reversed to zero, and it will net off with the accounts receivable. The transaction will increase the cash on balance sheet and increase the customers’ deposit which is the liability. Money and […]

4 Top Tax Tips for Food Truck Owners How to Start and Run a Successful Food Truck Business

Contents: Profit and Loss Document Accounting helps food truck entrepreneur cook up profits Large Startup Expenses Quickbooks Online (best small restaurant accounting software) Other people’s money The system facilitates the delivery of a world-class food truck customer experience. Read our full system review to learn more about Talech POS. Whether you’re a new or established […]

Best Law Firm Accounting Software & Bookkeeping Service Reviews

Amicus Attorney and AbacusLaw are downloadable software you can use on local servers or through a private cloud for easy access and sharing that’s still secure. A retainer agreement helps establish terms for your services and payment. Learn how to set up your own retainer agreements and improve stability for your practice. For example, the […]

Days Sales Outstanding Meaning, Formula, Calculate DSO

Contents: How to calculate DSO with the days sales outstanding formula What Is Days Sales Outstanding (DSO)? Good and Bad DSO Numbers Remember that you’ll want to monitor your progress toward your goals, which means the best goals are measurable. A Bizfluent analysis of major foodservice brands also found a lot of variance across the […]

Reconciling Account Overview, Process, How It Works

Some businesses create a bank reconciliation statement to document that they regularly reconcile accounts. This document summarizes banking and business activity, reconciling an entity’s bank account with its financial records. Bank reconciliation statements confirm that payments have been processed and cash collections have been deposited into a bank account. BlackLine is an SAP platinum partner and a part of your SAP financial […]

Statement of Comprehensive Income Overview, Components and Uses

In contrast, OCI encompasses gains and losses that are not recognized in the net income. These items are reported directly in the equity section of the balance sheet to provide a more comprehensive understanding of the company’s financial position. OCI captures non-operating and non-recurring items that have the potential to impact the overall financial health […]

Methods of Estimating Inventory

The gross profit method is an alternative to the normal periodic method that is available for midyear reporting, with the major advantage of eliminating the need for a physical inventory count. However, you’ll still have to perform a physical count at the end of the year and adjust your mid-year estimates to the actuals determined […]

36 Best Retail Software April 2023

Content Bookkeeping Software Built for Your Retail Business Enable Financial Consolidation Universal Accounting Software You’re our first priority.Every time. How does accounting software work? Benefits, Potential Issues and Costs If you prefer locally installed software over a cloud-based program like QuickBooks Online or Xero, then QuickBooks Desktop is a good option. It can track sales […]

Instagram Best Practices 8 Content Tricks Used By Top Brands

Content Example Instagram photos Step 1: Understand Your Brand’s Aesthetic Choose a cohesive color palette Creating an Instagram Aesthetic Tip #12:Create meaning for your followers. Creating an Instagram Aesthetic Tip #5:Choose a variety of photos. Your Instagram aesthetic is the first thing potential customers will notice when they check out your brand’s profile. The colors, […]