Ecommerce can happen through a website, smartphone app, social media platform, online marketplace, or other sales platform. If you want to sell at a marketplace, a fair, or a festival then this is the best option for you. It has a really simple website builder with no monthly fees. You...

Tracking your expenses is an essential part of managing your finances. By keeping track of every dollar you spend, you can gain insight into where your money is going and make informed decisions about allocating your resources. The first step you’ll need is a business bank account, which allows you to...

However, this is a very simplistic measurement—gross profit margins vary significantly between industries, so there’s not one number that indicates a good gross profit ratio. Service-based industries tend to have higher gross margins and gross profit margins because they don’t have large amounts of COGS. The gross margin for manufacturing...

Depending on the size of your company, you should invest in just-in-time manufacturing tools to help you manage the appropriate balance. Otherwise, consider tuning or expanding your analytics capabilities for more precise insight into your needs. Any company manufacturing a physical good knows the importance of effective warehouse management. As...

This method is often seen as more practical for simplicity in accounting but may not accurately reflect market conditions if the bond is called before maturity. If the bond in the above example sells for $800, then the $60 interest payments it generates each year represent a higher percentage of...

The invoice amount changes to zero, which means it remains in your reports. This action will affect your accounts receivable and balance sheet, but the advantage is that you retain a history of the transaction. It’s a good option if you want to stop a payment process while still keeping...

Some companies have negative working capital, and some have positive, as we have seen in the above two examples of Microsoft and Walmart. Generally, companies like Walmart, which have to maintain a large inventory, have negative working capital. Change in net working capital refers to the differences in the liquidity...

Taxes are incredibly complex, so we may not have been able to answer your question in the article. Get $30 off a tax consultation with a licensed CPA or EA, and we’ll freelance accountant be sure to provide you with a robust, bespoke answer to whatever tax problems you may...

Research shows that even low levels of alcohol consumption can be potentially harmful, as there is no safe level for cancer risk, adds Diaz. This increase in heart rate can also lead to does alcohol drop blood pressure «holiday heart syndrome,» Dr. Mintz says. «In the 24 to 48 hours...

Revenue recognition is how a a business determines when they’ve officially earned revenue from a contract or project. This can make it difficult to track expenses and effectively calculate the profit generated from each service category. Below are the key ways in which construction accounting differs from other types of...