It also syncs with either QuickBooks Online or Netsuite (as opposed to syncing just with QuickBooks, like most virtual bookkeepers). With outsourced accounting services, you’ll have meticulous eyes that can…

The proceeds received are debited in the cash account, while the loss is debited in the loss on sale of asset account and the gain credited in the gain on…

The calculation of the cost of sales, which is reported on the income statement, also depends on the conversion cost. Since the overhead applied is greater than the actual overhead,…

Contents: Managing Finances at Scale: The Importance of Scalable Bookkeeping Services for Franchises Back Up Your Books for Peace of Mind: Q&A with Rewind How a POS System Can Help…

The franchisor is responsible for coordinating financial statements from all the franchise units, while the franchisee manages the day-to-day accounting process of each unit. Franchise accounting is essential for the…

After this, you will be able to work with your data and build your prognosis. For more details on this, you can refer to our article on preparing a cashflow…

Again, there will need to be modifications made if there are inconsistencies. Ensuring the overall credit balance and total debit balance are equal is the goal of this phase. The…