Revenue vs Profit: What’s the Difference?

During the conduct of any business activity, all other factors of production i.e. land, labor, and capital have guaranteed incomes from the entrepreneur. They are least concerned whether the entrepreneur makes the profit or undergoes losses.” In simpler words, he stated that profit was the reward for taking risks. Taxable income is the money that […]

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What Is Shrinkage in Inventory?

However, it may require a complete overhaul of your current inventory management processes. You’ll need to diagnose the problem before you solve it, so it’s important to approach the problem with care and deliberation. As per the stats, 42% of inventory shrinkage occurs because of employee theft. The employee recruited to the position will then […]

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Virtual accounting: How to succeed remotely

Looking for a scalable outsourced bookkeeping service with flexible payment options? Every inDinero plan includes a dedicated account manager, direct employee reimbursements, some above the line accounting inventory management, and payroll assistance. It also syncs with either QuickBooks Online or Netsuite (as opposed to syncing just with QuickBooks, like most virtual bookkeepers). Consider your non-billable […]

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Solved: Move expenses paid from undeposited funds to cash in bank

When you select Create Sales Receipts, you see the Sales Receipt window. Dancing Numbers is SaaS-based software that is easy to integrate with any QuickBooks account. With the help of this software, you can import, export, as well as erase lists and transactions from the Company files. Also, you can simplify and automate the process […]

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Gross Revenue vs Net Revenue Reporting: What’s the Difference?

People should report all their taxable income and wait to file until they receive all income related documents. This is especially important for people who may receive various Forms 1099 from banks or other payers reporting unemployment compensation, dividends, pensions, annuities or retirement plan distributions. If a taxpayer receives Forms 1099-K, they should visit What […]

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Things to Know About Accounting in Hotel Business and More!

So it’s no surprise that the accounting side of it is distinct and multifaceted, going far beyond the simple ledger entries of revenue and expenses. As a hotel owner or manager, you need the right hospitality accounting base to manage your business’s finances. You’ll need to choose between cash or accrual accounting, which sets the […]

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Which is better: A high or low equity multiplier?

From the above example, the Conclusion is Shareholder funds, not the bank or financial institution debt, drive a company’s growth. DuPont Analysis is a financial model which is used to decompose the different constituent how to calculate equity multiplier pieces of ROE (Return on Equity). It allows to indicate how financial leverage affects a company’s […]

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H&R Block Tax Pro Lists

The bottom line is that your cost will ultimately depend on your business volume. For example, balancing a bank account that has thousands of transactions will take more time and cost you more than an account with 100 transactions. For example, a small business with fewer clients and transactions will normally cost less than services […]

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