Catégorie : Bookkeeping

When a company buys shares from its shareholders and doesn’t retire them, it holds them as treasury shares in a treasury stock account, which is subtracted from its total equity. For example, if a company buys back 100,000 shares of its common stock for $50 each, it reduces stockholders’ equity by $5,000,000. Retained earnings represent…

Business owners usually keep a small amount of cash in a safe or lockbox that they use to pay for unexpected items. The use of a petty cash fund can circumvent certain internal controls. However, the availability of petty cash doesn’t mean that it can be accessed for any purpose by any person. Many companies…

However, a favorable variance may indicate that production expectations were not realistic in the first place, which is more likely if the company is new. With either of these formulas, the actual rate per hour refers to the actual rate of pay for workers to create one unit of product. The standard rate per hour…

The leading journals deal with the topic of technologies and information applied to accounting, auditing and accountability. Starting from these premises, this study aims to offer a bibliometric and open coding analysis of articles published in accounting, auditing and accountability to understand the state of the art, new research trends, future avenues and critique the…

By choosing Xetechs as your implementation partner, you can be sure that you are working with a team of experts who have the experience and skills needed to ensure a successful Odoo implementation for your business. Once you have a clear understanding of your business requirements, you can use this information to design your Odoo…

The length of the billing cycle varies depending on the business and the type of billing system used. Some businesses may have a monthly billing cycle, while others may have a bi-monthly, quarterly, or annual cycle. The billing cycle typically starts on the same day each month or billing period and ends on the day…

Communication between parties is hugely important in construction. Subcontractors are invaluable, and the better you can streamline your conversations with them, the smoother the project will go. You can simply sign up for a free trial to test if the solution fits your needs. Backed by an impeccable accounting system with tax compliance features, the…

If you don’t have enough, youcould even be forced to sell some of the things you own or make payments from your future wages to pay the claim off. If you are not organized as a corporation, your risk is not limited to the amount you invested and earned in the business. Let’s say you…

Estimated overhead is budgeted at the beginning of the year and used to calculate the predetermined overhead rate. Applied overhead is the amount that is added to jobs as work is completed. This is done during the year as work is completed using the predetermined overhead rate and actual activity. Actual overhead is the amount…

A retail business tends to have a higher proportion of payables, since it is purchasing its main input from suppliers (merchandise). Accounts receivable are recorded when the company sells its goods or services on credit to customers. Likewise, the accounts receivable are the current assets that are shown on the balance sheet for which the…