Inventory management is the process of tracking and managing inventory levels. This is important for a franchise business, as excess inventory can tie up cash flow, while insufficient inventory can lead to lost sales. Revenue recognition is the process of recording revenue when it is earned, regardless of when payment is received. In a franchise […]

A business typically generates positive or negative earnings (profits or losses). If a company has generated more profits, it will pay out dividends to its shareholders for investing their money in the company. Any residual profits (retained earnings) are reinvested into the company to foster growth or used to pay off any outstanding debt the […]

Easily create, customize, and send professional invoices while on-the-go. Once you’re approved, you can turn payments on or off for any invoice, or pick default settings for all invoices. Set up recurring invoices for your finance clients and safely store credit card info so you have one less thing to keep track of. See sent, […]

Let’s say you have a cash account balance of $30,000 at the end of 2021. Because it’s a permanent account, you must carry over your cash account balance of $30,000 to 2022. Read on to learn the difference between temporary vs. permanent accounts, examples of each, and how they impact your small business. We will […]

Content Start selling with Quantum Purpose and Benefits of Trade Discounts Accounting for a Trade Discount trade discount ​Definitions and Synonyms Extra Accounting Legal Work: Journal Entry for Trade Discount Cash discounts refer to a discount that a seller offers to a buyer in return for paying a bill before the maturity of the due date. Trade Discount […]

For non-tax purposes, individuals can usually use their total wages as gross income. When applying for a loan, individual gross income will equal the amount of money the individual earns prior to any taxes being deducted or any expenses having been paid. Some lenders may require the use of AGI to standardize how gross income […]

First, it’s the starting point for figuring out how much tax you owe. Second, it’s often used as an eligibility requirement for loans, financial aid, and other programs. Your annual income seems bigger when you’re an independent contractor. Direct taxes are levied on your income or wealth and paid directly to the government, while indirect […]

The total amount of depreciation taken over the entire life of the asset should equal the depreciable cost (cost minus salvage value). You can manually adjust the depreciation expense taken to equal the depreciable cost, or you can include additional formulas to make sure that the total depreciation equals the depreciable cost. If you are […]

Anthony  motivates  and works  our Team Members and all sub-contractors and holds all to work with safety and perform a high finished  quality of work. Anthony conducts and attends pre -construction meetings with Team Members, Subcontractors and  issues  RFI’s if needed to  Client or Architect  to clarify the scope of work of the project. With […]

This figure does not include cash sales as cash sales do not incur accounts receivable activity. Net credit sales also incorporates sales discounts or returns from customers and is calculated as gross credit sales less these residual reductions. Since the receivables turnover ratio measures a business’ ability to efficiently collect its receivables, it only makes sense […]