Bookkeeping

Many users are frustrated by the company’s generic help articles that fail to address their issues. These problems have caused some businesses to seek alternative accounting software despite ZarMoney’s many positive features. Manufacturers and wholesalers have unique accounting needs that aren’t addressed in the standard one-size-fits-all accounting software products sold by many vendors. Why startups […]

The reality is that your chart of accounts should reflect how your business operates, grows and makes money. When trial balance files are merged to create a master trial balance, all of the Petty Cash and Other Cash accounts in the various files will be itemized and summed under Cash on the resulting master trial

Once you have your data inputted into Excel, you can begin to build your financial model. This data will include information on your revenue, expenses, assets, liabilities, and cash flow. In this guide, we’ll walk you through the process of building a financial model for your startup, step-by-step. Building a financial model for your startup

For example, under IFRS, certain chart of accounts definition items that might be considered non-operating under GAAP, such as foreign exchange gains or losses, are included within operating income. For instance, if a company reports a large gain from an investment in a particular year, its earnings would temporarily spike, possibly leading to an overvaluation

Yes, owning land has an impact on your business’s financial health for many years since it’s part of your long-term investments. No, land is not considered a current asset; it’s seen as a long-term investment for companies. A current asset is something the company owns that it expects to turn into cash within one year.

The key components include a debit to either cash or accounts receivable (showing an increase in assets) and a credit to sales revenue (indicating an increase in equity through earned income). Let’s consider a practical example of a sales revenue journal entry in accounting, focusing on both a cash sale and a credit sale scenario.

In this article, we’ll clarify what in transit inventory is, why it’s important, and some best practices for managing it efficiently. With Megaventory, you can run reports that show how long inventory stays in transit, which suppliers or routes cause delays, and where your in-transit value is concentrated. Megaventory integrates with leading shipping platforms and

Suppose in a water pump manufacturing company, the inventory levels in the financial statement as of November 30, 2023, show 1700 pumps. In the above equation, the cost of goods sold reflects the recorded inventory levels. As inventory management becomes more efficient across supply chains, end consumers increasingly benefit from faster fulfillment options. Hence, proactive

It signals that the entire content of your email is in the subject line itself. This is where the acronym EOM becomes incredibly useful. Save my name, email, and website in this browser for the next time I comment. While it offers various benefits in terms of facilitating straightforward exchanges, careful attention to context is

A company can report billions in profit on its income statement, Accounts Payable is considered a short-term liability as it is typically due within one year. ✓ Evaluate stocks with 14+ proven financial models As is expected for a liability account, Accounts Payable will normally have a credit balance. A liability to a creditor, carried on