Content Autonomous Accounting Real-life Example of How to Calculate Average Collection Period Ratio How to Put the Cash Conversion Cycle to Work for Your Business About Average Collection Period Calculator Examples of Average Collection Period Formula Even if average collection periods may be smaller than many other industries, the margins for wholesale distributors are so […]

Businesses and organizations face an incredible amount of uncertainty about the future, whether for the next month or the next five years. Seattle Accounting Services offers a holistic range of services which adapt and grow with the diverse, changing needs of your organization as it evolves. We work hard to simplify the accounting and bookkeeping […]

Product costs are any costs incurred in the manufacture of a product. These costs include direct materials, direct labor, and factory overhead. The difference between period costs vs product costs lies in traceability and allocability to the business’ main products and services. Easily traceable costs are product costs, but some product costs require allocation since […]

PCWorld.com calculated it would cost about $61 for 15 employees with the same kind of subscription and tax forms necessary. As an ADP Payroll Specialist at [CompanyX], you will be responsible for the accurate and timely processing of payroll for our employees. This includes maintaining employee records, calculating wages, and preparing and issuing paychecks. You […]

Let’s look at the different types of bonds, starting with the types of bonds that could make up the core of your bond portfolio. Core bonds can help offer diversification, stability, and a reliable source of income. Even if the nominal rate is positive, inflation can erode purchasing power so far that money loses its […]

You should prepare a bank reconciliation statement that explains the difference between the company’s internal records and the bank account. Reconciling an account is an accounting process that is used to ensure that the transactions in a company’s financial records are consistent with independent third party reports. Reconciliation confirms that the recorded sum leaving an […]

The person in this role also handles other financial commitments needed for vendor management. They are expected to be knowledgeable about tax laws, economic conditions, and accounting methods. This is the termination of a vendor’s contract or relationship with the company. A line of credit payment allows the customer to purchase a product service on […]

The table below summarizes most of the accounts (and their types) that you might need to use while doing accounting for your small business. You can find the 8 most common accounts that any small business will have to use for their accounting highlighted in blue. As a business owner, accounting what is manufacturing overhead […]

Instead, they rely on accounting methods such as the first in, first out (FIFO) and last in, first out (LIFO) rules to estimate what value of inventory was actually sold in the period. If the inventory value included in COGS is relatively i forgot to send my contractors a 1099 high, then this will place […]

Doing so sends the wrong signals to the client about your value, and what you can do for their business. What’s changed over the past 4 years on the topic of consulting fees? You set an hourly rate, track your hours, and then bill your client by the hour. The highest-paying cities for accounting consultants […]