Category: Bookkeeping

Before cashing a check after the requested time frame, consider the reason for the payer’s request. It might be the case that they’re living on fixed income and won’t have the funds available after the specified time frame. You may end up getting charged a deposit item return fee if that’s the case. Santander Bank, […]

Depending on various factors, the expiration time for a cashier’s check can range from 60 days to never. Sometimes, the issuing bank may mention an expiration date on the check. The only exception is a certified check, which must be honored even after 180 days. Uncashed checks to vendors, contractors, payroll, and shareholder dividends are […]

The church leadership should meet with each ministry team, helping them prioritize their projected spending to balance the budget. The church finance committee should also explore various ways your church can increase revenue. The church finance committee, often referred to as the board of directors, or deacons of the church, is an essential part of […]

The majority of the features included in each account are the same, it’s just the volumes and limits that differ. See all your current product listings and enter your cost of goods (COGS) to ensure your data is up to date. Multiple platforms like SaaS, iPhone, Android are allowed only in sellerBoard and InventoryLab only […]

Going digital with the onboarding process simplifies the process and makes it straightforward for your potential clients. You don’t want to miss your clients’ tax and financial reporting deadlines because you can’t reach someone. That’s why it is critical to have a contact person whom you can call, text, or email whenever you have a […]

Depending on the size and history of the account, this may be a lot of paper shuffling for the client (as well as yourself). Once this information has been received, some firms send small ‘thank you’ notes and gifts as tokens of appreciation. Set Expectations for Communication – Detail your communication protocol, including how often […]

QuickBooks offers integrations with 400 plus apps and software tools to increase the functionality of your software plan. ECommerce businesses can easily connect their accounting software with payment platforms like PayPal and Shopify. Xero vastly outperforms QuickBooks in its fixed asset management tools. With QuickBooks, you can record the purchase of a fixed asset, but […]

Like QuickBooks, Xero has a function to automatically calculate sales taxes for each invoice, as well as state or city taxes. A tax default can be set for any purchase, and Xero offers an integration with Avalara TrustFile in order to help you file your returns. Xero’s software also lets you map your accounts to […]

Many factors influence price variance, including availability, demand, seasonality, and weather. In addition, in some cases, price variance can be caused by market manipulation or fraud. The company saved 10% on the purchase price by ordering the gadgets lower than expected. This calculation tells you how much the actual quantity of products differs from the […]

This calculation will help you understand how much money was saved (or lost) due to purchase price fluctuations. It’s important to note that the DMPV includes only the direct materials in a product, not indirect materials. Companies often receive discounted prices when they purchase goods and services in large quantities. Hence, budgeting and following up […]