Bookkeeping

Sales returns are defective or unusable products that customers return to sellers. For example, customers might have to present proof of purchase, return the product in its original packaging and make a return claim within a specified period. Sales allowances are reductions in the original selling price for defective products that customers agree to keep. …

Sales Returns and Allowances Journal Entry Definition & Explanation Leer más »

Ideally, the account balance would be near zero just prior to the next replenishment cycle. For example, the funds required for employee payroll should be accurately known just prior to the next pay cycle. The monies should be kept in a separate bank account, or a locked deposit box for smaller increments, and never commingled …

Demystifying the Imprest Account: A Comprehensive Guide Leer más »

They can also provide strategic financial planning that helps your business grow. They can also help you determine the best accounting method for your specific situation. Consider consulting with a CPA who specializes in startups to ensure you’re setting up Certified Bookkeeper your finances for long-term success. At FinOptimal, we offer managed accounting services designed …

Creating Startup Financial Projections That Matter Leer más »