Inventory Costing: How to Choose an Inventory Costing Method 2023

Inventory costing is a component of inventory accounting, a broader set of activities related to managing and reporting inventory. Generally accepted accounting principles (GAAP) and the International Financial Reporting Standards (IFRS) apply to both. These are standardized accounting rules that prevent companies from overstating costs. What are Inventory Costs? The Types of Inventory Expenses and […]

The Ultimate Guide to Construction Accounting for Contractors

First, prevailing wage payroll may include and sometimes requires non-cash compensation called “fringe benefits,” such as health care or continuing education. Construction payroll systems must be able to handle these complex payroll scenarios, and many contractors use specialized payroll software to manage their payroll needs. Some might also categorize costs by project phases or sub-jobs, […]

Wave: Small Business Software Wave Financial

Since Wave uses accountant-approved, real double entry accounting, your accountant will have all the information they need. With a Pro Plan subscription, you can connect your bank account with Wave and automatically import your transactions. Bank data connections are read-only and use 256-bit encryption. Servers are housed under physical and electronic protection. Wave is PCI […]

Massachusetts Income Tax Explained 2025 Learn with Valur

If you’re married filing joint, both spouses must sign the return. Once the extension is granted, the 6-month extension starts at the filing due date of massachusetts tax brackets the original return. An extension to file a return doesn’t extend the due date for paying any tax due. The standard deduction, which Massachusetts does not have, is a […]

What Is Direct Labor Yield Variance? Formula & Examples

If a company’s efficiency variance results in customer complaints, it may need to take action to address the issue. This variance is calculated by subtracting the standard labor hours from the actual labor hours and multiplying the difference by the standard hourly rate. A positive labor efficiency variance means the company has used fewer labor […]

The Art of Keeping Receipts for Your Taxes

These documents contain the information you need to record in your books. It is important to keep these documents because they support the entries in your books and on your tax return. For instance, organize them by year and type of income or expense. Taxpayers should report the income they earned, including from part-time work, […]

Financial Clarity: Demystifying Auto Dealer Accounting for Increased Efficiency

When that happens, the labor is taken out of the work-in-process inventory account and charged to the cost of sales. The biggest accounting issue for a car dealership is the need for profit centers. The chart of accounts needs to be structured so that you can track profitability for new car sales, and used car […]

Successfully Dating a Person with an Addiction

The test is free, confidential, and no personal information is needed to receive the result. Loving someone with alcohol use disorder (AUD) often feels like walking a tightrope. It can be difficult to know what to do to minimize conflict and stress, support your loved one, and tend to your own needs at the same […]

How to Do Accounting for Your Construction Business 8 Steps

If you can hit that 20-50% range, you should be looking at a net profit margin of 7-10% (minimum!). It’s true that overhead expenses make up a big chunk of construction companies’ costs and can easily balloon out of control. More often than not though, you’re not The Role of Construction Bookkeeping in Improving Business […]

Last Words

Internationally, this previously common form of international consignment trade is now quite rare. This is because there are major legal, tax-related, and accounting difficulties in conducting cross-border consignment trade. Automate manual processes, generate accurate forecasts, reduce errors, and gain real-time visibility into your cash position to maximize your cash flow. Before understanding what consignment inventory […]

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