All Accounting Articles - Page 6

Units of Production Depreciation: How to Calculate & Formula

By Kathleen Murray on July 2, 2019 | Accounting, Business Accounting, How To | Comments (2)

Units of production depreciation is a depreciation method that allows businesses to determine the value of an asset based upon usage. Common in manufacturing, it’s calculated by dividing the equipment’s net cost by its expected lifetime production. Multiplying this rate by the asset’s output for the year gives you the depreciation expense. You cannot use…

Bookkeeper vs Accountant: Differences & Which Is Right for You

By Crystalynn Shelton on July 1, 2019 | Accounting, Business Accounting, Versus | Comments (0)

Eventually, most small businesses will need to hire a bookkeeper and accountant. If you are struggling to keep up with daily transactions like invoicing customers and paying bills, you need to hire a bookkeeper. If you’ve got daily tasks under control but need someone who can interpret financial statements, it’s time to hire an accountant….

What Bookkeeping & Accounting Services Should Your Firm Offer?

By Crystalynn Shelton on June 27, 2019 | Accounting, Accounting Careers, Ultimate Guide | Comments (0)

Deciding which accounting and bookkeeping services to offer depends on your knowledge, experience, and ability to take on additional work. Accounting services are typically offered by CPAs, while payroll, tax preparation, and bookkeeping services may not require this level of certification. It’s also important to make sure you have sufficient resources to handle the workload….

Free Invoice Template for Excel, PDF & Word

By Crystalynn Shelton on June 26, 2019 | Accounting, Business Accounting, Templates | Comments (19)

An invoice is a customer’s bill for a sale after goods or services have been delivered but before payment has been made. Accounting software is the best way to create and send an invoice but typically costs a monthly fee. To help, we have a free, downloadable free invoice template in Excel, PDF, and Word….

Top 7 Free Invoice Generators 2019

By Crystalynn Shelton on June 20, 2019 | Accounting, Accounting Software, Buyer's Guide | Comments (2)

If you’re getting your business off the ground and you’re generating less than five invoices monthly, you can either create invoices manually or use a free invoice generator. Out of these two options, we recommend you try an invoice generator. In addition to creating professional looking invoices, your customers can pay their invoices online. For…

What Are the Best Invoice Payment Terms for Your Small Business?

By Crystalynn Shelton on June 19, 2019 | Accounting, Business Accounting, Ultimate Guide | Comments (6)

Choosing the wrong invoice terms can disrupt your cash flow and alienate customers. However, for an entrepreneur just starting out, it can be difficult to know what terms to set to get paid faster and establish positive relationships with your customers. Your industry and client history are key components in choosing the right invoice terms….

How to Enter Bank Transactions in QuickBooks Online Manually

By Crystalynn Shelton on June 17, 2019 | Accounting, Accounting Software, How To |

Welcome to the Fit Small Business QuickBooks Online training course. In this lesson, we’re going to cover how to enter bank transactions in QuickBooks Online manually. This tutorial is for small business owners whose financial institutions don’t integrate with QuickBooks Online. We’re glad you’re taking the time to learn QuickBooks Online, our best overall pick…

Understanding Early Payment Discounts on Invoices

By Crystalynn Shelton on June 14, 2019 | Accounting, Business Accounting, What is | Comments (30)

An early payment discount (also called a prompt payment or cash discount) is a reduction in an invoice balance when it’s paid before the due date. A common discount is 2/10 – net 30, which means buyers can earn a 2% discount by paying in 10 days. A $500 invoice would be discounted to $490….