Category: Bookkeeping

In this article, we’ll give you a rundown of the essential formulas every small-business owner should be familiar with to effectively manage their cash flow. In the indirect method, the cash flow is calculated from the key figures in the income statement by deducting all non-cash expenses and income from...

Forensic accountants often work for law enforcement agencies and insurance companies, analyzing financial records and accounts. The single-entry method is the preferred method for sole proprietors, small startups, and companies with unfussy or minimal transaction activity. The single-entry bookkeeping system tracks cash sales and expenditures over a period of time....

This calculator's genesis occurred as Tibor navigated the labyrinth of sales tax implications on business models and consumer purchases. He realized the necessity for a tool that could elucidate the direct financial impact of sales tax on both net and gross prices, leading to the creation of this calculator. Interestingly,...

Kruze’s finance and bookkeeping team combines experienced startup accountants with the best off the shelf, and custom built, accounting software. We automate everything but have our experts keep an eye on your financials to catch the mistakes the systems make. Founders shouldn’t be burdened with making sure they carefully and...

These two factors are accounted for by isolating two variances for materials—a price variance and a usage variance. Tracking direct material usage also helps businesses determine the reorder point, or the inventory level at which they need to buy more raw materials to keep up with production. Companies list a...

Wring a sales invoice is not difficult at all, as we have already said earlier. You just need to follow the step-by-step process to create any kind of invoice template you want to send to the clients. If you follow the right path and right strategy it will help you...

Contributions to a health savings account are deducted from your pre-tax income. For every allowance you take, less money gets withheld for federal taxes and more money gets added to your paycheck. Take fewer allowances, and a bigger chunk of your income will be withheld for your federal taxes. Refinancing...

Managerial accounting provides internal financial information that assists management in decision-making processes. It involves budgeting, cost analysis, performance evaluation, and forecasting. Managerial accounting offers valuable insights for strategic planning and resource allocation. Consider the reporting needs of stakeholders, like investors, creditors, and regulatory bodies. It does not relate to the...