Decision Making Framework: A Guide to Smarter Choices
However, these methods only represent a small portion of the available MCDM methods. In future research, it would be valuable to explore and examine a broader range of MCDM methods to determine their potential applicability in specific cases. For instance, the ELECTRE method can be particularly helpful in outranking alternatives without compensation, which could prove […]
Contra Liability Account: What it is, How it Works, Example
That is done by crediting accounts receivable by $100 and debiting the contra revenue account sales returns and allowances for $100. As mentioned, contra asset accounts usually have a negative value which is the same as a credit balance. That is to completely or partially offset the balance of their related asset accounts. Asset accounts […]
Bookkeeping for Real Estate Agents: A Complete Guide
One of the primary advantages of modern Real Estate Bookkeeping is the ability to leverage financial data analytics. By analyzing trends and patterns within financial records, real estate professionals can gain insightful knowledge into market behaviors, helping them to anticipate changes and adapt strategies accordingly. This proactive stance on financial data not only sharpens the […]
Finance and Accounting Outsourcing Services
Efficient Distribution of Tasks – Outsourcing frees your staff from the mundane and repetitive finance and accounting tasks so that they can focus on high-value work. An outsourced accounting service provider is ideal for companies that need to focus on their flexibility and scalability. Instead of leaving your staff to handle time-consuming and cumbersome tasks, […]
Compound Interest Calculator Find interest compounded daily, monthly, annually
Simple interest refers only to interest earned on the principal balance; interest earned on interest is not taken into account. To see how compound interest differs from simple interest, use our simple interest vs compound interest calculator. Just enter your beginning balance, the regular deposit amount at any specified interval, the interest rate, compounding interval, […]
How can I get a report showing the profit margin on each of my products? Thanks in advance
This report is great for details by product/service but I really would like a summary report. The Custom Summary Report is form 941 definition great but when I select Product/Service for the rows and All Dates then try to filter for a Customer, I get an box that comes up and says you must select […]
Compare QuickBooks Online vs QuickBooks Desktop
The downsides are the lack of sales orders, lead management, and other complexities that loyal Desktop users may miss (such as customizable letter templates, a built-in calendar, and even spellcheck). These versions give business owners more features and reports geared toward their industry. QuickBooks Online offers over 80 reports depending on your plan, best accounting […]
Bookkeepers To-do List: 21 Bookkeeping Tasks You Should Perform Daily
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. Bookkeeping is the ongoing recording and organization of the daily financial transactions of a business and is […]
Accounting and Financial Franchise Opportunities
Paramount’s annual growth has far exceeded the average CPA firm in the US and that of the overall industry. According to the Franchise Business Economic Outlook for 2018, the franchise sector grew faster than the overall economy in 2017 and is set to do so again in 2018. The number of franchise establishments increased by […]
Depreciation: A Beginner’s Guide with Examples
For example, a business can take the entire $70,000 in year one or deduct $10,000 a year for seven years when it purchases a $70,000 piece of equipment unless it’s clearly a capital expenditure. At the end of each year, record the depreciation expense for the year and the increase in accumulated depreciation. The difference […]