So if you’re working with time values in Excel, you would essentially be working with the decimal portion of a number. If there are any digits after a decimal point in these numbers, Excel would consider those as part of the day and it can be converted into hours, minutes, and seconds. Similarly, the timing […]
Category Archives: Bookkeeping
And often, they just want to see a more aggressive plan because they’ve invested a lot of capital in this company. They want to see it produce big numbers and a big exit out of it. This is why they’re going to challenge you to be more aggressive. Sometimes, the boards, even in the stock […]
Conversely, if inventory levels decrease significantly, it indicates more goods have been sold, resulting in a higher COGS. Correspondingly, the inventory account is credited to decrease its value, showing the reduction in items due to the sale. When recording a sale of inventory, the COGS account is debited to increase its value, reflecting the expense […]
“So the software might look automated, but they actually had all these people on the backend,” the potential investor said. To bolster this effort, ScaleFactor hired The Outsourced Accountant, an offshore firm in the Philippines, to help. But no matter where they worked, the unpredictable technology continued to lead to errors in customers’ books. Scalefactor […]
Your goals need to align with the goals of the organization or awarding agency you’re seeking a grant from. Organizations should consider enlisting colleagues or board members who are familiar with grant writing to provide feedback on clarity, coherence, and overall impact. Fresh eyes can often catch mistakes or suggest improvements that may have been […]
Generally, small to medium-sized businesses expect to pay between $500-$2,500 USD monthly for their outsourced bookkeeping—an dauntingly large range to deal with. By being upfront and transparent with our pricing, we build trust and make it easier for clients to understand what they’re paying for. This means laying out all the details in a straightforward […]
Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company’s operations, financial position, and cash […]