Accuracy and consistency are key when performing variance analysis, as the right data is required to obtain the correct figures used for variance analysis. Companies and businesses need variance analysis in accounting to help them align their long-term and short-term goals to achieve success. Sales variances are the difference obtained from subtracting the actual...
By having many revenue accounts and a huge number of expense accounts, a company will be able to report detailed information on revenues and expenses throughout the year. Each of the accounts in a trial balance extracted from the bookkeeping ledgers will either show a debit or a credit balance. The normal balance of any...
Though a given individual may truly earn at the EAR, their true return may be reduced by 20% or higher based on what individual tax bracket they reside in. Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. The content created by our editorial staff is objective, factual,...
Double entry can be complicated to grasp if you are planning to do your accounts; it may be worth investing time in an accounting course or reading some of the books available. We have compiled a list of our top five accounting and bookkeeping books. All the posted transactions will leave an audit trail; it helps...
Using an invoice email reminder template can help you decide what to say when you reach out. Picking up the phone and giving your customers a call can also speed up the collections process. Automating the accounts receivable process is simple when you use accounting software that integrates with your payment system and business bank account. Including...
