OverviewFinancial data is a valuable resource for management, investment, and other decisions. To make it more useful, bookkeepers create temporary accounts to track revenues and expenses. Periodically, they close (zero out) these accounts to start f... Read more
DividendsDividends are a portion of the profits that a company distributes to shareholders in the form of dividends. In order to pay dividends, the company must receive a net profit, which it distributes to its shareholders.Whether it will distribute... Read more
Why do you need accounting?The law requires all companies to maintain bookkeeping records that contain all of their financial reports. In addition, proper accounting also helps you measure how your business is doing. Maintaining accurate books, thoug... Read more
DefinitionA Trial Balance is created by a company because we want to summarize all the business activities that we have recorded throughout the months in the form of journal entries. These journal entries will result in a balance for each account in... Read more
OverviewUnearned or prepaid revenue is a business’s liability even though it has the word revenue in it because you receive payments in advance from a customer for a service that has not yet been started or completed or products that the customer has... Read more
OverviewBefore we explain what a flexible budget is we need to step back and have a look at what a static or fixed budget is. The budget made during the planning for the coming calendar year or any other period is usually fixed. Here, the budget is s... Read more
OverviewThere are different methods for analyzing financial statements, the choice of which depends on the specific tasks that have been set and on the amount of information. The most used are horizontal and vertical analysis. They are used by many c... Read more
OverviewViewing raw data in financial statements can be relatively pointless without some yardstick against which to compare the numbers. Vertical analysis solves this problem by linking all items in the financial report to one item, forming a so-cal... Read more
ProsCustomizationInvoicing and estimatesInventory managementTaxesBank reconciliationFinancial reporting and dataProject managementOnline plus mobile appsData backupAffordable pricing and free trialConsLimited integration with other appsNo payroll ad... Read more
ProsSimple to add employeesAutomated payrollOnline timesheetsSeamless tax filing processNumerous HR functionsMobile appGreat customer supportConsAmbiguous pricing No advanced featuresOverviewDoing payroll manually can be complex due to various taxes... Read more
