Bookkeeping

Inventory turnover ratio is a financial ratio showing how many times a company turned over its inventory in a given period. A company can then divide the days in the period, typically a fiscal year, by the inventory turnover ratio to calculate how many days it takes, on average, to sell its inventory. We have […]

Before calculating their inventory turnover, contractors need to classify their inventory into regularly consumed inventory vs. inventory they keep for safety stock. Whatever you have in safety stock may have very poor inventory turnover. Still, you don’t want those Retail Accounting in your calculations because you simply have to have that inventory in stock in

The classified income statement subdivides operating expenses into selling and administrative expenses. Thus, statement users can see how much expense is incurred in selling the product and how much in administering the business. Statement users can also make comparisons with other years’ data for the same business and with other businesses. Nonoperating revenues and expenses

If you’re selling more expensive products or services, your margin may be on the lower end of that range. If you’re selling lower-priced items, your margin may be on the higher end. Businesses must strike a balance between maintaining high sales margins and being competitive in the marketplace. Armed with your profit margin information, you

These projects can range from building residential properties to large-scale infrastructure developments. Internal controls are procedures and policies that construction companies put in place to ensure the accuracy and integrity of their financial records. Construction companies should have a system of internal controls in place that includes segregation of duties, regular audits, and oversight by

Some of the thesaurus results come from a statistical analysis of thewords in a large collection of books written in the past twocenturies. A handful of times we’ve found that this analysis can leadus to suggest word associations that reflect racist or harmfulstereotypes present in this source another word for incremental material. What is another

This helps to eliminate errors and ensure that you’re claiming all of the deductions available to your business. A member of our accounting and reconciliation team will connect with you to learn more about your business, discuss catch-up accounting services, and provide a pricing estimate. Our expert team is well-versed in the latest balance sheet

Keeping the books isn’t something that feels intuitive for many small business owners, and the truth is many fall behind. Transition over to our ongoing monthly bookkeeping service to keep your books on track. You’ll get ongoing monthly books and financial statements and insights to help you make smart decisions for your business. Bench simplifies