Bookkeeping

Gross Margin vs Contribution Margin: What's the Difference?

Let’s test-drive some of these scenarios with the stuffed animal manufacturing business. No business decisions should be made solely on one number, so let’s bring in more context on how the business did last month. One common misconception pertains to the difference between the CM and the gross margin (GM). A high contribution ratio tells …

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Solved: Should I import the Transaction Date or the Date Posted on a CSV file?

The bank probably have that transaction marked as “pending” on 30 September, and “cleared” on 2 October. Personally, I use the earlier date in Quicken so that it looks like I lose money earlier. This isn't 100% accurate, but it keeps me from thinking my accounts have more money than they would otherwise have. For …

Solved: Should I import the Transaction Date or the Date Posted on a CSV file? לקריאה »

What is Depreciation, Depletion, and Amortization?

It is important to know that land is not a depreciable property but landed properties such as buildings, warehouses, storage facilities, and other constructions are depreciable properties. The definition of depreciate is "to diminish in value over a period of time." An asset gets depreciated by using either the Straight Line Method or the Written …

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Online Accounting Software Small Business Accounting

While Xero offers unlimited users, it compensates for that by significantly limiting the number of invoices and bills allowed on the Early plan (20 invoices and five bills). Most businesses will soon find themselves needing to upgrade to a more costly plan. Invoicing is a crucial aspect of cash flow management for businesses. Xero simplifies …

Online Accounting Software Small Business Accounting לקריאה »

T-Account: Definition, Example, Recording, and Benefits

And even though automated accounting systems use the same theory behind the posting process, some do not show the inner workings of accounts in their interface. Most of the problems with T accounts creep in with errors on the part of the person recording the transaction. Some may be numerical while others are accounting principle …

T-Account: Definition, Example, Recording, and Benefits לקריאה »

Jocelyn Muhl CPA, LLC

Content Small Business Accounting Related Cost Guides Tax Accounting Seattle Pioneer Accounting Group goes beyond the basics, improving every area of your business. Expertise.com Concierge Service Modern Accounting with Accountant Seattle Before we prepare your taxes, we prepare you to be financially successful After reviewing the results, our team can recommend how to respond to …

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How do you account for payroll withholdings for health insurance?

Your employees are responsible for paying $100 per pay period (500 x 20%), while your company is responsible for $400 (500 x 80%). This information allows us to understand the total cost to your company and each employee per payroll, which will help us understand what we're accounting for. Before we dive into the accounting …

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