After a 30-day trial period, Xero will bill a monthly charge of $13 per month for the Early plan, $37 per month for the Growing plan and $70 per month for the Established plan. For free invoicing platforms, consider Zoho Invoice, Square Invoices or PayPal Invoicing, although these platforms provide fewer capabilities. We’ve also made… Read more »

The trend shows whether the company’s operational efficiency is improving or deteriorating. Investors compare the efficiency and profitability of companies in the same industry by analyzing their operating ratios, with lower ratios indicating greater operational efficiency and stronger profit potential. However, the operating expenses were not reduced relatively to the same extent as revenue growth,… Read more »

Xero’s scalable plans and app marketplace cater to an organization’s evolving demands. QuickBooks is the leading accounting software for small businesses, designed to simplify financial management and empower growth. From automating payments to managing payroll, QuickBooks offers a scalable solution that can adapt to your business needs. While Xero’s plans start at a cheaper price, QuickBooks… Read more »

Most horizontal analysis entail pulling quarterly or annual financial statements, though specific account balances can be pulled if you’re looking for a specific type of analysis. Horizontal analysis is used in financial statement analysis to compare historical data, such as ratios, or line items, over a number of accounting periods. Vertical analysis differs from horizontal… Read more »

Hence, we need to debit the inventory account as in the journal entry above. For example, on January 31, we makes a $1,500 sale of merchandise inventory in cash to one of our customers. The original cost of merchandise goods was $1,000 in the inventory balance on the balance sheet. Cost of goods sold on… Read more »

This method is simple and efficient when the cost can be directly traced to a single cost object. By seeing how cost allocation works in these enterprise environments, you’ll better understand its practical application and significance across different sectors. Let’s say there is a company that is engaged in certain operations and spends $12,000 for… Read more »

The standard deduction for a Head of Household Filer in Oregon for 2023 is $ 2,605.00. To download tax forms on this site, you will need to install a free copy of Adobe Acrobat Reader. With the legalization of recreational marijuana, Oregon collects taxes on pot production and its sales. The Oregon Department of Revenue… Read more »

It emphasized that the primary basis of accounting for inventory is cost, which is defined as the sum of the applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition and location. Example of Accounting Research Bulletins Accounting Research Bulletins (ARBs) were a series of publications issued by the… Read more »

Effectively managing expenses in manufacturing isn’t just an option — it’s a necessity. For example, you can allocate depreciation costs of refrigerators to the department that uses them. To obtain these details, you can refer to the company’s employment records that has a list of all the employees and their hourly rates. For instance, let’s… Read more »

Finance Strategists is a leading financial education organization that connects people with financial professionals, priding itself on providing accurate and reliable financial information to millions of readers each year. The material quantity variance is also known as the material usage variance and the material yield variance. Of course, variances can be caused by production snafus,… Read more »

Businesses have turned to finance outsourcing to benefit from cost-efficiency, better talent, and access to new technologies and systems. Competent finance professionals are unquestionably indispensable in any organization. But maintaining an in-house team can get costly, which is why many companies look into outsourcing their finance roles. Finding a BPO financial services provider that is… Read more »

Delaware’s taxation structure has different tiers for LLCs, LPs, non-profit corporations, and 10 basic tax terms you should know for-profit corporations. Instead of doing hours of research on how ratio calculator: analyze and convert ratios in seconds to calculate Delaware franchise tax, use our tool to get answers in minutes. LLC/LP’s benefit by only having… Read more »

Learn about how manage inventory products and how to create an inventory product in QuickBooks Online. Today’s leading accounting platforms offer standard security features like data encryption, secure credential tokenization and more. While human error will always play some role in security breaches, you can be confident in your accounting platform when it comes to… Read more »

A contribution margin is a gap between the revenue of a product and the variable costs it took to make it. Earnings Before Interest and Taxes (EBIT) is the company’s net income before applying taxes and interest rates. While the contribution margin shows the money left over for paying fixed expenses and profit, income is… Read more »

Blockchain makes it possible to write verified transactions to a distributed ledger in a secure fashion, without a central authority, between untrusted parties, creating an undeniable past, value for each node and adding value (trust) to those transactions. Audit technologies can help reduce the length and complexity of audits. It is also very likely that, in… Read more »