This financial information helps you make smarter decisions about everything from pricing to hiring to expansion plans. Once you’ve chosen your accounting software and created your chart of accounts, you’ll need to record transactions. You’ll also need to choose...
Revenue that a company receives for goods or services that have been provided but have not yet been paid for by the customer is known as accrued revenue. This won't be the case, though, if operational or non-operating costs increase more quickly sales revenue formula...
A payroll ledger keeps every payment organized, supports compliance, and makes tax reporting easier. Without one, Payroll Accounting errors can pile up, leading to messy records and even an audit. The good news is setting up payroll accounting can be an easy process...
Audits are an essential component of accounting, but they carry some element of risk. The audit risk model helps assess this level of risk, making it a useful tool to employ during the planning stages of any financial audit. In this guide, we’ll break down the audit...