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…
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….
This tool is freely available and is designed to help you accurately estimate your 2024 tax return. The general merchandise sales tax applies to almost all other products purchased for use in Illinois. However most areas have additional local taxes between 1% and 4.75%. The highest combined sales tax in Illinois is 10.75% which belongs…
Use data here to calculate gross margins – the ratio of gross profit to net sales. The income statement summarizes how much revenue a company made during a reporting period and how much it cost to earn that income. An investor hoping to buy shares in the company focuses on earnings per share, while a…
Bookkeeper.com is the only provider in this guide that offers sales return filing. Bookkeeper360 offers both accounting and cloud-based https://www.bookstime.com/ bookkeeping services and business advisory services. Bookkeeper360 is also the only provider in this guide that works with Xero. Other elements are completed at certain time periods as necessary to complete a business task. This…
Since the replenishment check is drawn for a company’s checking account, the credit journal entry goes to the Cash account. A petty cash fund is a small amount of bills and coins that an organization keeps on the premises to pay for minor expenditures. A petty cash custodian is responsible for this fund, and maintains…