What is a contra expense account?

What is a contra expense account?

The calculation for COGS depends on the inventory costing method used by a company. This relationship portrays how COGS is...

The Consistency Theme: Productively Aim Your CliftonStrengths Talent

The Consistency Theme: Productively Aim Your CliftonStrengths Talent

Think of it as climbing a ladder – each step you take consistently moves you closer to success. Have you...

What Is the Net Method of Recording Purchase Discounts?

What Is the Net Method of Recording Purchase Discounts?

Our team of reviewers are established professionals with decades of experience in preparing the statement: direct method areas of personal...

Accounting for Purchase Discounts: Net Method vs Gross Method

Accounting for Purchase Discounts: Net Method vs Gross Method

This may mean that the relevant period needs to go back further than 52 weeks, up to 104 weeks. Moreover,...

What is minimum stock and how is it calculated?

What is minimum stock and how is it calculated?

At Interlake Mecalux, we offer Easy WMS, a WMS with multiple applications in the logistics sector. If you’re interested in...

GST Calculator Australia Avoid GST Calculation Mistake

GST Calculator Australia Avoid GST Calculation Mistake

Once you have identified the applicable GST amount, multiply it by the current GST rate. The standard GST rate in...

Construction Bookkeeping Services A Step-by-Step Guide

Construction Bookkeeping Services A Step-by-Step Guide

Advanced reporting capabilities, providing insights into project performance, profitability, and cost overruns. Progress invoicing to manage milestone billing based on...

2018 Review of GoSystem Tax RS From Thomson Reuters

2018 Review of GoSystem Tax RS From Thomson Reuters

The application also offers top-notch integration with other CS Professional Suite applications that increase functionality tremendously. GoSystem Tax RS offers...

GoSystem Tax RS Tutorials

GoSystem Tax RS Tutorials

GoSystem Tax RS pricing is dependent on firm needs, and starts at around $4,000 per year for a single user....

Construction Accounting 101: A Complete Guide Blog

Construction Accounting 101: A Complete Guide Blog

The construction industry balance sheet reflects–assets, liabilities, advances, equipment charges, project financing, and retentions. If properly maintained, it can give...