Bookkeeping

If you are continuously reordering products with low velocity, you need an urgent EOQ calculation that will help you determine the ordering quantities. By using EOQ to keep holding costs and ordering costs at an optimum level, businesses can substantially limit wasteful spending and thus enhance their profitability. Hence, EOQ acts as a major decision […]

Access the Firm of the Future website for industry news and insights, expert advice, product release information, and much more. Learn the ins and outs of QuickBooks with free training and certification. Clients’ bank feeds imported, expenses reconciled, payroll run, payments recorded, and more. File T1s, T2s, and T3s for all your clients from within

By giving them access to your QuickBooks account, your employees can fill in their timesheets and mark billable hours, which helps when preparing accurate timesheets and enhances payroll. QuickBooks allows you, as a small business owner, to provide access to employees and partners, like sales reps and office managers. By providing custom access to QuickBooks,

Understanding deferred tax assets: Definitions, calculations, and examples If it has a timing difference on account of depreciation, the deferred tax liability is not recognised for the timing differences that originate and reverse in the tax holiday period. However, if the timing difference originates in the tax holiday period and reverses after the tax holiday,

A Guide to Deferred Tax Assets and Deferred Tax Liabilities The rate used should reflect the expected rate when the temporary differences reverse, requiring a forward-looking approach that considers potential tax legislation changes. The total tax expense for a specific fiscal year may be different from the tax liability owed to the Internal Revenue Service

Distinguishing Deferred Tax Asset vs Deferred Tax Liability However, for tax purposes, the deduction for warranty costs may only be allowed when the actual repairs or services are performed and the costs are incurred. This timing difference creates a deferred tax asset, as the company has recognized an expense for accounting purposes before it can

Loading and unloading a truck is backbreaking, mind-numbing work that retailers and parcel carriers have tried to solve for years. Summers and winters are particularly grueling for anyone stuck in a metal trailer, slinging heavy boxes. Company warehouses buzz with metallic arms plucking items from shelves and wheeled droids that motor around the floors ferrying

Over the last few years Washington has become a less favorable state regarding tax policy. The state of Oregon does have an estate tax that ranges from 10% to 16% depending on the size of the estate. Sales Tax – Oregon bookkeeping is one of only four (4) states in the union with no sales tax, yay!

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