An inventory aging report is a list of the items on hand grouped by the length of time in inventory. It’s used to identify slow moving inventory plus the additional costs to store and maintain these products until they are sold. If you use accounting software, you’ve got a few options for creating the report….
All Ultimate Guide Articles - Page 17
Realtor.com Leads for Agents: How to Maximize Your ROI in 2019
Realtor.com is the second-largest online real estate marketplace, with over 18 million unique monthly visitors. The platform offers free and paid marketing and lead generation tools to help agents grow their business. Pricing information isn’t readily available online, but services for Realtor.com leads reportedly cost from $200 to over $1,000 per month. How Much Realtor.com…
Inventory Accounting: Definition, Methods & Examples
Inventory accounting is valuing and tracking fluctuations in inventory assets. The three primary inventory costing methods are average cost, last-in, first-out (LIFO), and first-in, first-out (FIFO). Businesses using manual bookkeeping systems should use the average cost method. However, businesses with nonperishable products should use LIFO, while FIFO is right for businesses that carry perishable items….
Sales Commission Structure: The Ultimate Guide for 2019
A sales commission structure is the system you set up and use to pay your salespeople a percentage of each sale they make. Since commissions are a common form of compensation for sales reps, it’s important to understand the why and how behind creating a commission structure that works for your business. A customer relationship…
How to Use Retail Data Analytics to Drive Sales
Retail data analytics is the measuring, tracking, and interpretation of data. For retailers, this data typically includes sales, inventory, employee, and consumer demand information. Retailers can gather this data through their point-of-sale (POS) system and harness it to determine best-selling products, top-spending customers, and highest-performing employees to improve sales and performance. Many point-of-sale (POS) systems…
Rental Property Maintenance: The Ultimate Guide
If you want to make money owning and renting out real estate, it’s important to take care of your rentals. Rental property maintenance is a key part of managing your portfolio and protecting property values. Rental maintenance is typically divided into five main areas including interior and exterior maintenance and move-in/move-out maintenance. Be sure to…
Journal Entries: What They Are & How to Do Them
A journal entry is a record of a financial event that has occurred in your business. By recording journal entries, you ensure that your financial statements are accurate and complete. We cover basic accounting, two types of journal entries, and three simple steps to prepare journal entries manually or using an accounting software. What Is…
Google My Business: Ultimate Guide 2019
Google My Business is a free online platform for listing business information like your address, contact information, and reviews. When people search for your business, products, or services on Google Search or Google Maps, Google will display the information from your My Business account. This helps businesses increase visibility among local Google users. How Google…
Professional Liability Insurance for Counselors
Professional liability insurance for counselors is a business policy designed to cover malpractice claims brought against mental health therapists such as psychologists, occupational therapists, and social workers. Policies pay for your legal defense, including civil awards, if you’re accused of professional negligence. Counseling liability insurance usually costs $400 – $3,000 per year. One way counselors…
What Bookkeeping & Accounting Services Should Your Firm Offer?
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….
Business Insurance: The Ultimate Guide for Small Businesses
Business insurance is a form of protection small business owners can buy to safeguard their personal or business assets. Getting the appropriate coverage for your operations protects your assets by covering customer lawsuits, property damage, and other perils so that the costs that follow a disaster don’t put you out of business. What Business Insurance…
Cannabis Insurance: Cost, Coverage & Providers
Cannabis insurance refers to a group of business policies that cover risks inherent in the marijuana industry. However, different operations require different kinds of marijuana insurance policies. Most cannabis businesses, including dispensaries, cultivators, and testing labs, need at least general liability insurance, which they can usually get for $700 – $3,000 annually. makes it easier…