Bookkeeping

Please contact an accountant, attorney, or financial advisor to obtain advice with respect to your business. As such, a $40,000 discrepancy due to the missing transactions should be noted in the reconciliation, and an adjusting journal entry should be recorded. This guide covers basic manufacturing accounting terms you should know and what to look for […]

QuickBooks is one of the most popular accounting software on the market. It packs all the features that accountants and companies need to track the cash flow of small or medium-sized businesses. You can also use QuickBooks Online to store your data in the cloud and access it from multiple devices. But sometimes, users are […]

As we embrace the vast potential of artificial intelligence (AI), it is crucial to navigate its inherent challenges responsibly. The focus extends beyond merely implementing technology — it involves cultivating an ecosystem that is ethically sound, transparent and inclusive. As financial institutions invest in strategic AI integration, they are not just keeping pace with advancements, […]

You’ll need to be self-motivated and have the discipline to stick to a manageable schedule to avoid burnout. Promote your services as widely as possible, and always look for ways to add value. Make sure you’re charging a fair amount for your work, and don’t forget that you can write off some of your expenses when you […]

Similarly, for a company (or its franchisees) in the business of offering services, revenue from primary activities refers to the revenue or fees earned in exchange for offering those services. To avoid this error, clearly differentiate between operating and one-time expenses when recording them on your income statement. To ensure the accuracy of your ecommerce […]

To boost business process optimization, you need to measure and report different parameters such as customer satisfaction levels, sales, expenses and profits and the rate of inventory turnover. A performance report will use benchmarking as a means to set and measure these targets. Benchmarking is akin to competitor analysis, as it compares your business’ performance […]

Advertising agencies may quickly transmit accurate information to their customers using this accounting system. With Productive’s Reporting, you can use the library of 50+ agency-focused templates or create your reports fully from scratch. Marketing agencies generate revenue based on projects and individual client relationships. How to Choose Accounting Software for Advertising Agencies The best accounting […]

Seeking medical advice is crucial for accurate diagnosis and management. The primary cause of alcohol intolerance is a genetic condition that affects the body’s ability to metabolize alcohol efficiently. One of the key enzymes involved in alcohol metabolism is aldehyde dehydrogenase 2 (ALDH2). Alcohol intolerance, on the other hand, usually results in symptoms like facial […]

The accounting rate of return (ARR) is a simple formula that allows investors and managers to determine the profitability of an asset or project. Because of its ease of use and determination of profitability, it is a handy tool to compare the profitability of various projects. However, the formula does not consider the cash flows […]

Construction payroll can be particularly challenging, especially with varying pay rates, overtime, and seasonal workers. Additionally, handling subcontractor payments—often with complex contract terms—requires precise record-keeping to avoid disputes and ensure compliance with labor laws. Construction bookkeeping is a form of bookkeeping unique to the construction industry. Contractor and Subcontractor Payment Management During the course of […]