All domestic C corporations (C-corps) must file IRS Form 1120, U.S. Corporation Income Tax Return, every year they are in business, even if they don’t have any taxable income. The financial information in Form 1120 is pretty straightforward—as long as you have your balance sheet and profit and loss statement prepared. The more difficult part…
How To
How to Spot a Fake Check: Ultimate Guide
Fake checks are fraudulent or counterfeit versions of legitimate checks, created with the intent to deceive individuals or businesses. These checks may look authentic but lack sufficient funds, are entirely fabricated, or are tampered with. To avoid potential financial and operational loss, a business must learn how to spot a fake check by being familiar…
How to Improve First Call Resolution: Tips & Best Practices
First call resolution (FCR) is a key call center metric measuring how well the agents answer customers’ needs on the first contact. The benchmark average for the FCR rate is 70%, though this percentage also depends on the industry. A high FCR rate reflects excellent customer experience and agent productivity. To achieve this, learn how…
How to Resell Temu Products: Everything You Need to Know in 2024
Temu is an ecommerce marketplace that carries a huge potential for sourcing items for reselling. It offers very low factory-direct prices, huge discounts, price adjustment guarantees, a generous return policy, and more. To resell Temu products, decide where to sell first. Then, find products for reselling, determine pricing, purchase initial inventory, and set up listings….
How to Sell on Temu (2024): Everything You Need to Know
Temu is a relatively new ecommerce app that went live in the US in September 2022 but has gained 100 million active users as of April 2023. Its three commercial slots from the most recent Super Bowl clearly indicate that this marketplace which offers factory-direct prices on products across multiple categories should be on your…
6 Steps for Creating a Customer Service Strategy (+ Worksheet)
When creating a customer service strategy, the first step is to set goals and objectives or determine what you want to attain with your service efforts. The next step is to build and train your customer service team to equip them with the right knowledge and skills. Identifying your customer service touchpoints and choosing your…
How to Do Payroll in Excel: 7 Simple Steps (+ Video & Template)
With attention to detail and an accurate and reliable template, processing payroll in Excel can be great for small businesses just starting out. Learn how with our guide and free template.
For very small businesses that operate in states without complex labor and tax laws, knowing how to do payroll in Excel is a good way to pay 10 or fewer employees. Since it is a completely manual approach to payroll, it does take time compared to other methods but can definitely be cost-effective for growing…
How To Record a Depreciation Journal Entry in 4 Easy Steps
Recording depreciation begins with choosing a depreciation method and ends with ensuring the total accumulated depreciation shown in your general ledger agrees with your end-of-year accumulated depreciation. It requires debiting depreciation expense and crediting accumulated depreciation, as shown in the journal entry below: However, knowing the journal entry syntax isn’t enough. Your primary concern should…