Category Archives: Bookkeeping

Basically, including your signature is net sales giving permission for the recipient to cash it. A certified cheque basically guarantees that there are enough funds in the account for the cheque to get deposited. Cheques are becoming less and less common to make or receive payments. Do Checks Expire? Different types of checks are valid […]

When you engage our Bookkeeping Services, you will be assigned an accountant who will bond amortization schedule work with you personally on your accounting needs. This named accountant will work with you on a regular basis and you are able to contact and communicate with this accountant directly on a regular basis. Based on the […]

Assets and liabilities (like inventory, equipment and loans) are tracked separately. If you’re just starting out, are doing your books on your own and are still in the hobby stage, single-entry is probably right for you. Lenders and investors want a clear idea of your business’ financial state before giving you money. They can’t do […]

Net income is found on your company’s profit and loss statement (also called an income statement). You’ll refer to the balance sheet to find cash dividends and stock dividends on your balance sheet. Retained earnings are a type of equity and are therefore reported in the shareholders’ equity section of the balance sheet. Although retained […]

There are many reasons a business owner may want to understand the average collection period meaning, calculation, and analysis. Not only does the ACP value provide important insights into the company’s short-term liquidity and the efficiency of its collection processes, but it can even be used to catch early signs of bad allowances. Most importantly, […]

Evaluating payback period helps companies recognize different investment opportunities and determine which product or project is most likely to recoup their cash in the shortest time. A fast return may not be a priority for every business in every case, but it’s a crucial consideration all the same. While the payback period shows us how […]

If the KPIs show that a current process is inefficient or ineffective, a new process must be drawn up. For example, an online webshop can choose to implement an extensive help centre with an interactive Q&A. The visitor can ask his or her question with the help of keywords and use the computer to look […]

Instead, prudence relates to focusing on accounting for potential losses rather than expected profits. What’s more, prudence requires expenses to be logged before the payment leaves your account. When there is a likelihood of an expense, a record needs to be made of this expense in the company’s books right away. Prudence is a fundamental […]

Then, at certain points, the step costs increase to a higher amount. Both fixed and variable costs can take on this stair-step behavior. For instance, wages often act as a stepped variable cost when employees are paid a flat salary and a commission or when the company pays overtime. Further, when additional machinery or equipment […]

Try to break notes of larger denominations ($50/$100) into smaller ones ($2/$5/$10) when possible. Singapore may not have scenic mountain ranges or awe-inspiring topography, but it’s also out of the path of any major tectonic movement. You are unlikely to face any major natural disasters – no earthquakes, volcanos, typhoons or sandstorms here. Singapore may […]