Category Archives: Bookkeeping

As we’ve said, a successful ZBB program depends on there being a clear view of how much the company is spending on every given item, and by whom. As a result, financial tracking must reflect a cost-category perspective across organizational units, as well. And this, in turn, means that the organization must embed cost transparency […]

There are other valuation methods like inventory average or LIFO (last-in, first-out); however, we will only see FIFO in this online calculator. Ultimately, businesses must evaluate their unique needs and circumstances when determining which inventory management system will work best for them. Furthermore, implementing the FIFO formula simplifies record-keeping and makes it easier to track […]

Education requirements are slightly different for those pursuing their CPA license; CPA candidates must achieve at least 150 credit hours throughout their academic career in higher education. If you have professional experience in accounting or a related field, you may be eligible for the CPA certification through the experience pathway. This pathway allows candidates to […]

Using the same example, we calculate that the future value of the stream of income payments to be $11,807.80. Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. The formulas described […]

Taking time to balance your checkbook could help you avoid financial headaches caused by fraud. You simply write down transactions as they happen, adding or subtracting the appropriate amount from your balance. At the end of the month, you compare the ledger with your account statement to balance your checkbook. To protect against losing track […]

While they’re not as good as cash, they can function in a similar way when it comes to taxes. While you used the money to pay off your card, there’s now a debit on the card that’s almost as good as cash. In contrast, the IRS tax code specifies special rules on the treatment of […]

These programs may automatically populate some transactions, but there is still plenty of manual recording you can do with them, both on your computer and your phone. The benefit of a program like this is that it often will nudge you to complete your necessary tasks, and it will walk you through the process of […]

No more mad dash to get organized for income tax day, or filing extensions when you fall behind. Plus, we’ll keep you in compliance with sales tax regulations in Fort Lauderdale and Florida. If your bookkeeping is in arrears, our catch up services will get you up to speed—without hassle or judgment. Free price estimates […]

The W-4 form — which is an Employee’s Withholding Allowance Certificate — is a document designed to let your employer know how much of your income to withhold for federal taxes. You should fill out a new W-4 when you have started a new job, if your personal situation changes or if you want to […]

It is good to have a high contribution margin ratio, as the higher the ratio, the more money per product sold is available to cover all the other expenses. The Contribution Margin Ratio is a measure of profitability that indicates how much each sales dollar contributes to covering fixed costs and producing profits. It is […]