QuickBooks Desktop, on the other hand, is locally installed with a license pricing model. QuickBooks Advanced is best for enterprise businesses with support for extra users and new features which help businesses operate more efficiently at scale. Reporting tools are available on the Simple Start plan but they are a bit limited. Vehicle tracking is…

KPIs are what you’ll obsess over as a business owner – they dictate the financial outlook of your restaurant. Your financial forecast gives you a rough estimate of how much revenue you’ll generate in the future. Revenue reports display total expected revenue for a period and how the  revenue is split between food and drink….

Retainage may be fixed or variable, depending on the terms of the contract. With a fixed percentage, typically in the 5% to 10% range, the same percentage of the total amount due is held back from each payment. With variable retainage, the percentage can change based on the stage of project completion. For example, a…

Moreover, they are even experts at using worldwide common collaboration tools such as Slack to ensure seamless communication. Or when you collaborate with a third-party software dev company to provide you experts to work on your project. Half of all Fortune 500 firms prefer to outsource to Indian software companies as per findings by the National Association…

The key difference between the top-down and bottom-up approaches is the perspective taken to perform your analysis. Bottom-up forecasting is ideal for estimating how specific performance metrics impact revenue. But to understand the true health of a complex business, we should look at it in more than one way. Revenue Grid also allows you to…

In short, we can say that accounting is the language of business by which all the financial and other information are communicated to various interested parties. Accounting information will not show the true financial position if changes in the price level are not considered. There can be a difference between the original cost and current…

This is why its shows both payment and deposit in the Undeposited Funds. I show both the payment and the deposit in the undeposited funds account. Everything I have found tells you to find the deposit, but mine is already there. Accounting is the function of recording transactions for business activities AFTER they occur, so bank…

Ultimately, hiring a bookkeeper or financial management company will be different for every business and bookkeeper costs will vary. Deciding what kind of small business bookkeeping services you need, and what your business can afford is a great place to start. FinancePal offers a variety of financial services tailored to your industry and business operations….

Bookkeeping is the practice of recording all of a business’s financial transactions, helping the owner gain an accurate picture of its financial condition. Bookkeeping is part of the general accounting function, which shows how money flows in each specific business account, such as sales, cost of goods sold (COGS), accounts receivable, and accounts payable. An…

In most cases, the percentage-of-completion method works in stages or payment milestones. Next, we explore the second method to recognize revenue with a different way of recording expenses and income — the completed-contract method. It’s also true that this method is flexible and simple, leading to less confusion in financial statements. Percentage of completion method…