Companies are embracing business process outsourcing (BPO) as a strategic solution to overcome challenging economic conditions. Growing businesses have to maintain relationships with many suppliers and vendors, and this usually ends up making the Accounts Payable process complicated. Vendors with different invoicing standards/procedures tend to make accounts payable processes quite cumbersome. Increased resources – Outsourced […]

Companies are embracing business process outsourcing (BPO) as a strategic solution to overcome challenging economic conditions. Growing businesses have to maintain relationships with many suppliers and vendors, and this usually ends up making the Accounts Payable process complicated. Vendors with different invoicing standards/procedures tend to make accounts payable processes quite cumbersome. Increased resources – Outsourced […]

For example, to add a new project, I clicked “time tracking” on the left-hand menu, then the “projects” submenu item. From there, I could click “+New Project” at the top of the resulting screen and fill out a simple form to add my new project. Want to check out software ranked by accounting features, not […]

Essentially, inventory is being held at upstream central locations, while retail stores are keeping a minimal amount of inventory on hand and are depending on fast replenishment from partners. Just-in-Time manufacturing is a production strategy focused on producing only what is needed, when it is needed, and in the amount required. Ohno’s system aimed to […]

Overall, though, Sage doesn’t have nearly as many built-in integrations as some of its small-business competitors. Customers can also add more users to each plan for an extra $3.30 per user per month (billed annually) or $4.40 per user per month (billed monthly). Each plan includes free access for your accountant, including the free plan. […]

Like accounting, financial planning services are always in demand, on both a personal and business level, to help save money and maximize profits. Financial planning spans services from retirement funds to wealth management, investment strategies to business plans. The healthcare industry is full of essential services that are truly recession-proof. Home health companies What has […]

Be it startups, small to medium-sized businesses, or non-profit organizations, outsourcing offers major advantages. Outsourced accounting refers to all the accounting services from an external service provider hired by a business. The Essential plan, starting at $750 per month, includes the native bookkeeping software and a dedicated controller and team to handle full-service outsourced bookkeeping […]

For example, the accounts receivable account will usually have a positive balance. We will apply these rules and practice some more when we get to the actual recording process in later lessons. This graphic representation of a general ledger account is known as a T-account. Time Period Assumption For example, Lynn Sanders owns a small printing […]

For the past 52 years, Harold Averkamp (CPA, MBA) has worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. You will credit “Administration — Office Supplies Expense” and debit “Administration — Minor Tools & Equipment Expense”. The ELPAC helps teachers make sure that all students are able to access […]

Depreciation is a process by which organizations account for the deterioration of a fixed asset’s value over time. Amortization refers to the spreading of the costs of long-term intangible assets over their useful lives. Both of these methods are used to match the expense with the revenue generated from using the asset. It is important […]