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Abstract word cloud for Accounting software with related tags and terms.

April 19, 2024

Accounting Software Implementation Guide [+ Free Checklist]

Switching to a new accounting system is not an easy process, but an accounting software implementation plan can make things easier: Step 1: Planning. Assess the need for a new platform and the software product you want to use. Step 2: Preimplementation. Prepare the entire

Vector of a man pushing down a car on a financial graph.

September 26, 2023

Double Declining Balance Method: Formula & Free Template

DDB Depreciation Schedule Template

Accounts Receivable text written on a notebook.

August 8, 2023

Accounts Receivable (A/R) Turnover Ratio: Definition & Calculator

Free Calculator

The accounts receivable (A/R) turnover ratio is helpful in managing your A/R and measures how effectively a business collects payment from customers they have extended credit to within a given period―generally one year. Analyzing the A/R turnover should include industry benchmarks to give you a

Featured Image of How To Create a Small Business Budget

June 20, 2023

How To Create a Small Business Budget [+Free Template]

Free Template

Creating a business budget is an important step in planning. A small business budget starts with creating the budgeting process, the operating budgets, such as sales, inventory and purchases, cost of goods sold (COGS), and sales and administrative, and ends with the financial budgets, such

Featured Image of Gross Profit Method of Estimating Ending Inventory

May 29, 2023

Gross Profit Method of Estimating Inventory + Calculator

Free Calculator

Small business owners can avoid frequent inventory counts and save time by using the gross profit method to estimate inventory. The gross profit method is the easiest inventory estimation technique wherein the company uses historical gross profit rates to determine cost of goods sold (COGS)

DPO report

May 19, 2023

Days Payable Outstanding (DPO): Formula, Calculation & Examples

Free Calculator

Days payable outstanding (DPO) measures the average number of days from when a company purchases inventory and materials from the supplier until it’s paid. The DPO calculation is: DPO = Number of Days x = Average Accounts Payable Cost of Goods Sold The formula can easily be changed for

Featured Image of Vendor Onboarding Best Practices

May 19, 2023

10 Vendor Onboarding Best Practices [+ Free Checklist]

Free Checklist & Templates

We’ll provide you with 10 vendor onboarding best practices—from creating an onboarding plan and discussing business processes to sorting out required documents and documenting payment methods—that can help you design a smooth and productive onboarding process. We also have a free vendor onboarding checklist, as

Store owner wearing an apron is checking the goods she sells.

May 12, 2023

What Is Retail Accounting? Retail Method + Calculator

Free Calculator

The retail method of accounting is an inventory estimation technique used to compute the value of ending inventory without having to take a physical count. Businesses with large volumes of inventory, like grocery stores, use the retail method because it's quick and affordable to perform,

Woman is holding a paper with charts printed on it while using calculator.

March 23, 2023

How To Set Up QuickBooks Online for Nonprofits

Free Donor Restriction Tracker

We’ll show you how to set up QuickBooks Online for nonprofits so that your income and expense information is organized in the same way as your Form 990, making completing the form easier. The key to using QuickBooks Online for nonprofits is to set up

Payment Overdue and pencil

March 2, 2023

How To Write a Collection Letter [+ Free Templates]

Free Templates

Writing a collection letter requires you to follow the right steps and use proper tone and language in your letter. When creating your letter, make sure that it’s concise and to the point, and include all the necessary information, such as the purpose of your

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