Danielle Bauter

An RR is essentially a confirmation and record of what was received against what was ordered and acts as a verification document before the accounts payable (A/P) department processes payment to the supplier. It ensures the goods were received as ordered before releasing funds. Receiving Report Example In our RR example above, Roy’s Burger House…

Quicken is a personal finance management application for creating budgets, tracking expenses, and managing investments. Its personal finance tracking solution, Simplifi, is great for managing your finances, investments, and debt; however, it lacks rental property management features. Quicken’s monthly fee ranges from $5.99 to $10.99 (billed annually), whereas Simplifi is priced at $3.99 per month…

The difference between cash and petty cash is that cash refers to all of a company’s monetary assets, including physical currency, bank accounts, and short-term investments, whereas petty cash is a limited amount of cash set aside specifically for small, routine office expenses. How Cash vs Petty Cash Works Cash and petty cash are interrelated…

The main difference between a perpetual vs periodic inventory system is the timing of when inventory is tracked. A periodic inventory system calculates the COGS following a physical inventory count at period-end, whereas a perpetual inventory system calculates the COGS after each sale. Most businesses would love to have updated inventory and COGS balances provided…

FreshBooks is designed predominantly for service-based businesses, whereas QuickBooks Online works well for both service-based businesses and businesses with inventory. FreshBooks is very affordable for companies with only a couple of users but becomes more expensive than QuickBooks for companies with five users. While FreshBooks has a few advantages over QuickBooks Online for project management,…

Perpetual inventory systems record transactions—like inventory purchases, sales, returns, and adjustments—as they occur. This is unlike periodic inventory systems, which depend on physical inventory counts and end-of-period adjustments Perpetual inventory systems also provide up-to-date inventory data at any given moment and enhance accuracy, making it a useful tool for manufacturers, retailers, and ecommerce businesses. How…

Rigbooks is a cloud-based trucking management system (TMS) that helps you manage and track orders, trips, expenses, and fuel mileage, as well as send invoices and prepare International Fuel Tax Agreement (IFTA) taxes. Its main features include detailed load tracking, fleet maintenance, billing and invoicing, and document management. Rigbooks’ Basic Entry plan starts at $19…

Property, plant, and equipment (PP&E) refers to a company’s long-term tangible assets that are used in its operations to generate income. These assets are expected to last for more than one accounting period, typically for a year or more, and are essential for the business to function. Understanding a company’s investment in PP&E can be…

Brainy Advisors, an online bookkeeping service led by CPAs with Big Four and Fortune 500 international bank experience, offers a competitive bookkeeping solution tailored for modern businesses. In addition to its bookkeeping services that include categorizing transactions, reconciling bank accounts, and providing you with monthly financial reports, Brainy Advisors will also serve as a liaison…

Merritt Bookkeeping provides professional remote bookkeeping services to small businesses located anywhere in the US. It’s best for those looking for affordable bookkeeping services without any tax or consulting services. It keeps its price very low by focusing only on bookkeeping essentials: recording transactions, reconciling accounting, and providing financial information. With its flat-rate pricing of…

Collection letters, emails, and phone calls should all work together in a strategic way to maximize the chances of recovering a debt. Collection calls—which come after an initial email that acts as a gentle reminder and provides a paper trail—allow for a more personal touch and a chance to gather information on why the payment…

We named QuickBooks our overall best small business accounting software, in part because it offers flexibility in supporting three types of checks: standard, wallet, and voucher checks. You can buy these directly from Intuit or other vendors selling QuickBooks business checks. Pricing differs depending on the quality of the check, quantity, and the security features…