Whether you decide to do job costing manually or using software, the same steps apply. Job costing How to leverage construction bookkeeping to streamline financial control is a process that…
QuickBooks Online wins because it offers more professional-looking and customizable invoices than QuickBooks Desktop. In fact, it recently upgraded its invoicing tool where you can now see the final look…
As a result, you can experience gross income deductions before calculating the tax bracket. Common bookkeeping errors include transposing numbers, entering data in the wrong account, adding or leaving out…
Using this contribution margin format makes it easy to see the impact of changing sales volume on operating income. Fixed costs remained unchanged; however, as more units are produced and…
They can also be used to remind a buyer of debt obligations if they still owe an outstanding amount. Some businesses use debit memos as shipping receipts to Accounting For…
This method operates similarly to the effective interest rate to maturity, but it assumes that the bond will be called before its maturity date. As a result, the amortization schedule…
While accrued interest expense represents the liability to pay interest in the future, cash interest expense reflects the actual outflow of funds. These differences can provide insights into a company's…
Accounting standards like IFRS 9 and the Financial Accounting Standards Board’s (FASB) ASC 310 provide guidance on recognizing and measuring interest expense, especially given the complexity of financial instruments. However,…
If you don’t like the current situation, or you haven’t even met your construction bookkeeping underwriters yet, talk to your bonding agent about it because the relationships are everything. I…
From tracking project expenses to handling vendor payments, there’s no shortage of detailed accounting tasks that require precise attention. Understanding construction accounting helps construction firms improve cash flow, track project…