Bookkeeping

Freight On Board Understanding How FOB Works in Shipping

In North America, the term “FOB” is written in a sales agreement to determine when the liability and responsibility for the shipped cargo transfers from the seller to the buyer. When it is indicated as “FOB Origin,” it means that the transfer occurs at the seller’s shipping dock when the goods are safely on board the ship. …

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Statement Of Retained Earnings What Is It, How To Prepare?

If you aren’t overly familiar with financial statements, it can be hard to pinpoint which statement is useful for which purpose. If you find yourself wondering where your profits have gone off to, you need the statement of retained earnings. Yes, retained earnings can be distributed among shareholders in the form of dividends, but they …

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Direct Material Price Variance Formula, Analysis & Example

A solid grasp on them helps in maintaining tight cost control over materials procurement. It tracks if spending goes as planned or if there are surprises needing attention. After figuring out how much material you used, it’s time to look at the prices. For example, if a material price variance is detected, managers should examine …

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Accounting Outsourcing: How to Hand off Your Financial Tasks With Recommendations Bench Accounting

But there’s more than one virtual accounting company in the world, and solutions range from on-demand CFO services to simple pay-by-the-hour book balancing. Below, we review the best virtual and outsourced accounting services for small-business owners like you. Outsourcing some or all of your accounting needs to an external third party can represent a major …

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How to Post Cash Collected on Accounts Receivable

The average homeowner on a tracker mortgage will see their monthly payments fall by £28.98, according to UK Finance. The bad debt expense was $7,800, and write-offs totaled $7,250 during the year 2023. For the year 2023, bad debt expense was $7,500, and accounts amounting to $6,400 were written off. Instead of creating Sales receipts …

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TradeGecko Review

TradeGecko will help to power your store with integrations to tools like WooCommerce and Shopify. If you don’t feel like taking the DIY approach to solving inventory management problems, don’t worry. On top of ease of use and tons of documentation, TradeGecko also offers a relatively reliable selection of professional guidance options. And with a …

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What is Posting?

Content Challenges of manual cash posting process What’s the Difference Between a Journal and a Ledger? Posting Financial Transactions Why Is Cash Posting Important? Posting to the ledgerThe classifying phase of accounting Posting From Journal to Ledger Cross-indexing is the placing of the account number of the ledger account in the general journal and the …

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