The Projects category lets you manage any projects and record time spent using the time tracking feature. As with QuickBooks, you can use Xero to automatically import and categorize expenses. Other mutual features include receipt photo upload, mobile app mileage tracking, expense reporting and adding billable expenses to client invoices. You can also use the … Read more
We also like that QuickBooks is transparent about features and pricing online. Unlike some other vendors, QuickBooks leaves no questions about what you get for your dollar. Learn about the differences between QuickBooks and Xero accounting software to decide which one is right for your business’s needs. What are the Best Invoicing Software besides Xero … Read more
Permanently restricted net assets are the most constrained, as they are intended to be maintained in perpetuity. These assets often form the basis of endowments, where the principal amount is preserved, and only the investment income generated can be used. This ensures a lasting impact, providing a steady stream of income to statement of activities … Read more
Under the accrual method of accounting, expenses are to be reported in the accounting period in which they best match the related revenues. If that is not clear, then the expenses should be reported in the period in which they are used up. If there is uncertainty as to when an expense is matched or … Read more
The list price is the sale price divided by the difference of 1 minus the result of discount divided by 100. A ledger account for “cash discount” will also be opened in the general ledger. Trade discount is a reduction granted by a supplier of goods/services on the list or catalogue prices of the goods … Read more
Franchises come with risks that you wouldn’t encounter with traditional small businesses. The right vendor can also be a consultant as you set up your chart of accounts, select and set up your POS, and help you set up an accounting system to optimize franchisee success. In addition to the needs of single-unit franchisees, multi-unit … Read more
It’s essential to maintain accurate balance sheet records to evaluate the franchise’s financial health. Franchise owners need to provide regular financial statements to the franchisor, which typically includes balance sheets, income statements, and cash flow statements. difference between horizontal and vertical analysis These reports provide valuable insights into the financial health and performance of each … Read more
Wave is a Canadian company that provides financial services and software for small businesses. Wave is headquartered in the East Bayfront neighborhood in Toronto, Canada. Keep your income flowing with the help of flexible payment options, and money transfers in as little as two days. Add credit card payments to get paid faster and stop … Read more