Terms of the sale are 10/15, n/40, with an invoice date of October 1. On October 6, the customer discovers 10 of the printers are damaged and returns them to CBS for a full refund. Since the customer paid on August 10, they made the 10-day window, thus receiving a discount of 2%. Likewise, this […]
Category Archives: Bookkeeping
While QuickBooks Online can handle a high volume of users (depending on the version you have), it performs the best when you are using 5 or fewer users. If you require more, your needs have likely grown beyond what QuickBooks Online will offer you long-term, and it may be time to consider upgrading to QuickBooks […]
QuickBooks, for instance, offers HR services, workers’ compensation insurance, and more by connecting business owners to partners. Below is a list of the accounts you will generally need to set up on your chart of accounts to track all payroll-related activities, along with a brief description of each account. There are some accounts you may […]
Non-cash discounts, such as free shipping, do not require immediate payment and thus do not have an immediate effect on cash flow. For example, if a business offers a 10% discount, it will reduce the initial income generated from the sale. However, the long-term effect may be positive if the discount increases future sales through […]
This process has changed, with ZenBusiness opting for a still animated but more formal approach. Unfortunately, while available through the Google Play and App Store, the mobile app isn’t as easy to use as one would think. The app loads with a “Log In” option but no option for first-time users. Hourly rate pricing One […]
BMG’s goal is to partner with you to help you retain as much your hard earned income as possible, and to keep it … To many people that knew him, he wasn’t just an accountant but a friend and family member as well. If you decide to go with us, we’ll take bookkeeping off your […]
It’s useful for business owners looking to save time and avoid common accounting errors. The two key accounting systems are cash accounting and accrual accounting. If your business is still small, you may opt for cash-basis accounting. If you carry inventory or have accounts payable and accounts receivable, you’ll likely use accrual accounting. Another type of […]