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Employees are having a meeting and group discussion.

July 11, 2024

How to Start a Bookkeeping Business [+ Free Checklist]

Free Checklist

Bookkeeping is a great home-based business that’s easy to start with very little cash. Whether you are looking to make extra money or want to grow a business to support you and your family, our guide on how to start a bookkeeping business will help
Petty Cash log.

June 26, 2024

What Is a Petty Cash Log (+ Free Templates)

Free Template

A petty cash log (also called a petty cash register) is the official record of all petty cash transactions. The petty cash custodian is in charge of maintaining the petty cash log for all petty cash transactions that were taken out of the fund. We
An accountant working.

June 24, 2024

Accounts Payable Internal Controls: Best Practices + Free Manual

Free Template

Accounts payable internal controls are a set of policies, procedures, and practices that ensure the accuracy, integrity, and security of accounts payable transactions.
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,
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