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Articles

April 14, 2022

Charles Lutwidge
How to Create a Business Budget for Your Small Business

How to Create a Business Budget for Your Small Business

Creating a business budget for a company is a tricky task. Some companies avoid the idea of creating business plans, and that’s a big mistake. Check out the article to learn about the importance of budgeting. You will also learn a..

Reading Time 7 mins
5 / 5 (1 voted)

Articles

April 11, 2022

Charles Lutwidge
Book Balance Definition

Book Balance Definition

The bank balance is the balance a bank reports on the company’s bank account at the end of the month. And the book balance is the internal general ledger record of that mentioned account. But what is the difference between these..

Reading Time 3 mins
0 / 5 (0 voted)

Articles

April 08, 2022

Charles Lutwidge
What is Predetermined Overhead Rate

What is Predetermined Overhead Rate

If you have a company related to manufacturing, or you work as an accountant for such a business, it’s essential to calculate and monitor the predetermined overhead rate. This rate helps monitor expenses to produce goods or provide services while setting..

Reading Time 4 mins
5 / 5 (1 voted)

Articles

April 06, 2022

Charles Lutwidge
Guide on How To Calculate Overtime Pay

Guide on How To Calculate Overtime Pay

Operating a business means spending a lot of time calculating employees’ salaries or wages. The task becomes even more complicated if employees work overtime since extra work is paid differently. Calculating overtime depends on different factors, such as the state, industry,..

Reading Time 6 mins
5 / 5 (1 voted)

Articles

April 04, 2022

Charles Lutwidge
Budget vs. Forecast: What’s the Difference?

Budget vs. Forecast: What’s the Difference?

Both a budget and a forecast are financial tools. Companies use these tools to plan their growth, income, expenses. These tools are vital to companies as they help the management in decision-making. Budgeting and forecasting are similar, and some companies owners..

Reading Time 4 mins
0 / 5 (0 voted)

Articles

April 01, 2022

Charles Lutwidge
Change in Net Working Capital (NWC)

Change in Net Working Capital (NWC)

Net working capital (NWC) and changes in NWC throughout the years play crucial roles for businesses. Positive or negative changes in the net working capital indicate the difference between the NWC of any two periods (months, quarters, current and previous years)...

Reading Time 5 mins
0 / 5 (0 voted)

Articles

March 31, 2022

Charles Lutwidge
What Is Self-Employment Tax

What Is Self-Employment Tax

Many taxpayers have to pay self-employment tax, but what exactly does it mean? Its rate consists of Medicare and Social Security tax rates. Self-employed individuals have to pay this tax in most cases. Typically, independent contractors, freelancers, small business owners, and..

Reading Time 4 mins
4 / 5 (1 voted)

Articles

March 30, 2022

Charles Lutwidge
Accounting Technologies for the Future

Accounting Technologies for the Future

The beauty of progress is that it never stops. Every industry comes up with various optimizations to make its processes better, safer, and modern. In the business industry, one of the most important areas is accounting. In the past, people used..

Reading Time 7 mins
5 / 5 (1 voted)

Articles

March 29, 2022

Charles Lutwidge
What are billable hours?

What are billable hours?

Many industries work according to billable hours. Even though it’s a common occurrence, there are still issues with keeping track of billable time. It’s a problem since it affects a person’s income. Bill time is rather profitable for most firms, which..

Reading Time 6 mins
0 / 5 (0 voted)

Articles

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