Bookkeeping for Beginners: 6 Basic Concepts to Get You Started

It will be helpful for you to understand this principle before posting any transactions. The accounting equation means that everything the business owns (assets) is balanced against claims against the business (liabilities and equity). Owners of the business have claims against the remaining assets (equity). If you’re new to business, you may be wondering about… Continue reading Bookkeeping for Beginners: 6 Basic Concepts to Get You Started

Income Tax Payable Definition, Calculate, Differences

Expenses can be defined as fixed expenses, such as rent or mortgage; those that do not change with the change in production. Expenses can also be defined as variable expenses; those that change with the change in production. Expenses can also be categorized as operating and non-operating expenses. The former are the expenses directly related… Continue reading Income Tax Payable Definition, Calculate, Differences

What is the Difference Between Prime Cost and Conversion Cost Formula & Examples

The manufacturing sector analyses both prime costs and conversion costs to measure efficiency in the production of a product. The conversion costs can also be used project accounting as a measure of the efficiency of the production process. Conversion costs can also be helpful in identifying any wastages during the manufacturing process. Manufacturing companies keep… Continue reading What is the Difference Between Prime Cost and Conversion Cost Formula & Examples

Amazon QuickBooks Online Integration: How to Set it Up

With it, you can create attractive invoices, pay your employees online, integrate hundreds of apps, and even do a lot of banking. QBO also proves quite easier to learn and use than QuickBooks Desktop. With QuickBooks Online, you can store and record data anywhere you have an Internet connection, and there are also mobile apps… Continue reading Amazon QuickBooks Online Integration: How to Set it Up