Author Archives: nghiavandroy

Go for professionals who have already worked with similar businesses. It’s also important to make sure they have experience in cost of bookkeeping services for small business accounting software you use. Many businesses rely on FreshBooks because of their flexible, trustworthy, and versatile system. It’s also ideal for brand-new businesses because FinancePal can help with…

For small businesses and entrepreneurs, it’s important to know when to choose simplicity over the latest tech. At a grocery store using the perpetual inventory system, when products with barcodes are swiped and paid for, the system automatically updates inventory levels in a database. The periodic vs perpetual inventory journal entries diagram used in this…

Another description of a contra expense account is an account that reduces or offsets the amounts reported in another general ledger expense account(s). Note that accountants use contra accounts rather than reduce the value of the original account directly to keep financial accounting records clean. Another type of contra account is known as “contra revenue,”…

This clause contains the maturity date of the bond, when the face amount of the bond will be paid to bondholders. Shaun Conrad is a Certified Public Accountant and CPA exam expert with a passion for teaching. After almost a decade of experience in public accounting, he created MyAccountingCourse.com to help people learn accounting &…

Consider factors such as payment processing times, customer creditworthiness, and the efficiency of your invoicing and collections processes. Day Sales Outstanding (DSO) is a financial metric used to measure the average number of days it takes for a company to collect payment from its customers after a sale has been made. This metric provides valuable…