Categoría: Bookkeeping

Your company can do some math and determine how low you can discount the items to at least break even while also ridding your inventory of the items that have become obsolete. Because any inventory left on hand must be written off as a loss, you can at least sell them to cover the cost…

To properly record and track retainage, you’ll need to include an account for retainage receivables on your company’s Chart of Accounts. OneUp is great at inventory management, point-of-sale integration, and sales tracking. construction bookkeeping While it serves retail-based businesses well, this accounting tool might seem excessive for smaller operations or service-based businesses. Presented as the…

Or if you want more practice with the trial balance, check out some additional questions further below. There are different terms used to describe the trial balance at different points in time. If this isn’t the case, try halving the difference (if the number is even) and seeing if a balance of that amount has…