Category: Bookkeeping

The estimated total overhead costs are then divided by the estimated total of the allocation base. This activity base is often direct labor hours, direct labor costs, or machine hours. Once a company determines the overhead rate, it determines the overhead rate per unit and adds the overhead per unit cost to the direct material…

Additionally, any inventory left over at the end of the financial year does not affect cost of goods sold (COGS). You should consult your own professional advisors for advice directly relating to your business or before taking action in relation to any of the content provided. After that sale, your ending inventory is the remaining…

Of all the outsourced accounting services, an outsourced CFO service is by far the most customizable. Whereas outsourced bookkeeping and outsourced controller work largely follow a predefined framework, an outsourced CFO relationship can be anything you want it to be. Outsourced CFO services are much more advisory in nature than outsourced bookkeeping or controller services.…

With the free QuickBooks mobile app, you can automatically track your business mileage without manually recording your odometer readings. Starting February 2023, you must use QuickBooks Online Accountant to add payroll to your service. With the previous version, your client could add it through their QuickBooks Online account. In the “Your Practice” section, you’ll have…

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