Category
Bookkeeping
5 min read time
As a self-employed individual, you can claim the employer portion of your self-employment tax as a deduction. If you use your cell phone and internet connection for both personal and business reasons, you can only deduct the percentage allocable to business use. Keep an itemized bill or other detailed records to prove the amount of business use in case your return is audited. Depreciation is more complicated than your average deduction, so we reco ...
6 min read time
These projections serve as a critical roadmap, steering you through fiscal choices while charting a path in harmony with your company’s monetary abilities and objectives. Additionally, scenario planning, or creating multiple projections with different assumptions, can be hugely beneficial in this planning process. Scenario planning allows you to see various potential outcomes, giving you an expected range of results or an idea http://vverh-tatarst ...
6 min read time
You get full value out of this software by having a well done setup and implementation activities. Units Consulting Ltd., Xero Certified Advisor, offers software installation and account setup in Ukraine. We are experts in defining the ideal Chart of Accounts and can ensure accordance to industry best practices and Ukrainian accounting rules. Our Xero training (in Russian) can be tailored to suit your needs in Ukraine and is fully flexible to fit ...
4 min read time
In many businesses, budgets are important, as they need to be shared with stakeholders. This can be employees or a governing body such as a board of directors. A budget shows insights into the financials of the business to potential investors. Activity-based budgeting is an effective and thorough way to break down different costs. Building Your Savings Beyond that, living on a budget can help you finally build that financial life you always imagin ...
7 min read time
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5 min read time
The diagram also shows the departments that report to the production unit director and gives an indication as to the flow of goods through production. The flow of goods through production is more evident in Figure 8.2, which depicts Dinosaur Vinyl as a simple factory with three stages of production. Job order costing allows you to calculate the whole cost of a particular project in an extremely efficient manner. It helps you find mistakes, ga ...
6 min read time
When done frequently, reconciliation statements help companies identify cash flow errors, present accurate information to investors, and plan and pay taxes correctly. They can also be used to identify fraud before serious damage occurs and can prevent errors from compounding. Non-sufficient funds (NSF) checks are recorded as an adjusted book-balance line item on the bank reconciliation statement. Automation can solve the problem of time-consuming ...
6 min read time
This cash flow statement was designed for the small-business owner looking for an example of how to format a statement of cash flows. If you don't want to separate the "cash receipts from" and the "cash paid for" then you can just delete the rows containing those labels and reorder the cash flow item descriptions as needed. To perform a cash flow analysis, you can compare the cash flow statement over multiple months or years. You can also use the ...
5 min read time
This leaves little room for error, especially considering outsourced bookkeepers are highly trained, so there is no adjustment period needed. This can improve your peace of mind that your bookkeeping needs are being well taken care of. Recruiting, onboarding, and managing an internal finance and accounting team takes up a significant amount of time. Maintaining accurate, timely financial information is vital in enabling you to make better decision ...
5 min read time
Another favorite app called Tickler lets agents add checklists to track and manage tasks from within a ticket. One of the teams that later adopted Zendesk Support was the Platform Services team. “The look and feel of Zendesk is certainly nicer, and we were able to adapt it as we wanted to,” said Hannah Butler, Platform Services Manager at Xero. Despite a heavy workload, her team met an accelerated implementation timeline and made the switch in jus ...