by admin | Jul 6, 2023 | Bookkeeping
If an actual rate is computed monthly or quarterly, seasonal factors in overhead costs or in the activity base can produce fluctuations in the overhead rate. For example, the costs of heating and cooling a factory in Illinois will be highest in the winter and summer...
by admin | Jun 7, 2023 | Bookkeeping
When equipped with the right accounting software, you can do more than just basic bookkeeping. You can effectively analyze the financial health of your business, find ways to generate more profit, and move forward with your business plan. You can connect nearly 10,000...
by admin | May 29, 2023 | Bookkeeping
On the other hand, when a utility customer pays a bill or the utility corrects an overcharge, the customer’s account is credited. Credits actually decrease Assets (the utility is now owed less money). If the credit is due to a bill payment, then the utility will...
by admin | Mar 24, 2023 | Bookkeeping
You should also make sure your hot water heater is electric, not gas powered. Check with your electric company to see if you qualify for budget billing. Typically, after living in your apartment or home for one year (sometimes a bit longer), you can qualify if you...
by admin | Feb 24, 2023 | Bookkeeping
It should be noted that if an account is normally a debit balance it is increased by a debit entry, and if an account is normally a credit balance it is increased by a credit entry. So for example a debit entry to an asset account will increase the asset balance, and...
by admin | Oct 3, 2022 | Bookkeeping
Setting a net terms interval should balance supporting buyers with flexibility and meeting your internal business needs and goals. Setting net terms that are too long may provide an unnecessary amount of free financing to buyers and jeopardize your internal cash flow....
