Sun.Apr 09, 2023

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Customizing the Icon Bar in QuickBooks Desktop

Insightful Accountant

Check out some of the cool customization features you can use with the icon bar, complements of internationally renowned ProAdvisor Esther Friedberg Karp.

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The advantages and disadvantages of just-in-time inventory

Accounting Tools

Related Courses Inventory Management Operations Management What is Just-in-Time Inventory? A just-in-time inventory system keeps inventory levels low by only producing for specific customer orders. The result is a large reduction in the inventory investment and scrap costs, though a high level of coordination is required. This approach differs from the more common alternative of producing to a forecast of what customer orders might be.

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Paychex Report: Small Business Jobs and Wages Increase Modestly

Insightful Accountant

The quarterly 'Paychex | IHS Markit Small Business Employment Watch' shines a spotlight on the ever-changing small business landscape.

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What to Look For in an Accounting Service

CSI Accounting & Payroll

A good accounting service is priceless. It gives you financial peace of mind, insight into your business operations, and help and support when you need it most. However, not all accountants offer the same degree of value for every business situation, so how do you pick the right one for your business? For the past 50+ years at CSI Accounting & Payroll, we've recognized that there aren't better or worse accounting firms, just better and worse fits for everyone.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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Benevolence fund definition

Accounting Tools

Related Courses Accounting for Churches What is a Benevolence Fund? A benevolence fund is used by a church to support those in the local community who are in need. Because the church is deciding who receives funds, rather than donors, contributions to this fund are tax-deductible for donors. For example, a member of a church congregation is battling cancer, so others in the congregation want to funnel donations through the church to pay this person’s medical bills.

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Flexible budget variance definition

Accounting Tools

Related Courses Budgeting Capital Budgeting What is a Flexible Budget Variance? A flexible budget is a budget that shows differing levels of revenue and expense , based on the amount of sales activity that actually occurs. Typically, actual revenues or actual units sold are inserted into a flexible budget model, and budgeted expense levels are automatically generated by the model, based on formulas that are set at a percentage of sales.

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Price efficiency definition

Accounting Tools

Related Courses Revenue Management Revenue Recognition What is Price Efficiency? Price efficiency is the concept that the price at which an asset sells should already reflect all public supply and demand information pertaining to it. A variation on the concept states that changes in this information are reflected instantly in the market price , while yet another version states that the price already reflects information that is both publicly and privately available.

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Discount bond definition

Accounting Tools

Related Courses Corporate Cash Management Corporate Finance Treasurer's Guidebook What is a Discount Bond? A discount bond is a bond that was originally sold at less than its face value. Alternatively, it may currently be trading at a price below its face value. Depending on the circumstances, a discount bond can represent a buying or selling opportunity for an investor.

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Inventory reserve definition

Accounting Tools

Related Courses Accounting for Inventory How to Audit Inventory What is an Inventory Reserve? An inventory reserve is an asset contra account that is used to write down the value of inventory. The account contains an estimated charge for inventory that has not been specifically identified, but which the accountant expects to write down the value at which it is currently recorded.

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How to calculate the internal rate of return

Accounting Tools

Related Courses Capital Budgeting Excel Formulas and Functions Financial Analysis The internal rate of return (IRR) is the rate of return at which the present value of a series of future cash flows equals the present value of all associated costs. In essence, the net present value is set to zero, so that you can solve for the discount rate - which is the internal rate of return.

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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

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Cash liquidation distribution definition

Accounting Tools

Related Courses Small Business Tax Guide What is a Cash Liquidation Distribution? A cash liquidation distribution is a distribution of funds back to the investors in a business when it is liquidated. This distribution represents a return of the residual value of a business to investors. The taxable status of this distribution is as follows: The distribution is nontaxable up to the amount of the investor's basis in the stock.

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Backward integration definition

Accounting Tools

Related Courses Business Combinations and Consolidations Business Strategy Mergers and Acquisitions What is Backward Integration? Backward integration occurs when a business acquires suppliers , so that its operations extend into its supply chain. This typically occurs when a company buys a key supplier, such as one that controls an essential raw material.

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The cost to store inventory

Accounting Tools

Related Courses Inventory Management Operations Management What is the Cost to Store Inventory? The cost to store inventory includes the costs associated with holding assets , storage, taxes, and the cost of money. Some of these costs relate to the value of the inventory , and others to the cubic space taken up by it. The resulting aggregate cost should be considered when deciding how much inventory to keep on hand.

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