The quick ratio, also known as the acid-test ratio, calculates a company’s ability to cover its current liabilities by means of its current assets. It is a liquidity ratio used by a company’s stakeholders, investors, and lenders and takes a company’s quick assets—which are current assets minus inventory and long-term receivables—and divides them by current…
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Certificate of Liability Insurance: What It Is & How to Request One
A certificate of insurance (COI) is a document that provides proof of insurance. It includes policy details like your specific coverage, limits, and effective dates, but it is not an insurance contract. Companies often require businesses they partner with to carry liability insurance because they don’t want to risk being held solely responsible. In those…
Ban the Box Law: An Ultimate Guide for Small Businesses
A state Ban the Box law prohibits employers from asking about a candidate’s criminal history on a job application. Ban the box originally referred to a yes or no box on job applications that asked if a candidate had ever been convicted of a felony. This has since expanded to include questions about any criminal…
What Is ChexSystems & How Does It Impact Your Business?
ChexSystems is a reporting agency that monitors business and consumer deposit account activity. It operates similarly to credit reporting agencies when producing a credit score. If you have negative bank activity—such as bounced checks, overdrawn balances, and fraudulent or suspicious activities—these will appear on a ChexSystems report. Negative items on a report can keep you…
What Is a Receiving Report? Example, Purpose & Types
A receiving report (RR) is a formal document used to record the arrival and condition of goods ordered from a supplier.
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…
What Is Auto Lease Inclusion & How to Calculate
The auto lease inclusion is a reduction to allowable automobile lease payment deductions.
While the naming convention implies that something is included in income, the auto lease inclusion is a calculated amount by which lease payment deductions are reduced. The reduction is triggered if the lease duration is 30 days or more and the fair market value (FMV) of the vehicle exceeds the threshold amount that the IRS…
What is Angi? (+ Costs, Features, & Best Alternatives)
Angi (formerly Angie’s List) is an online directory where homeowners can search for home-related services in their area, like plumbers, landscapers, and home cleaners. Conversely, it’s also a platform where home service providers and businesses can list their services and attract clients. Keep reading to learn more about what is Angi, how it works, and…
How Much It Costs to Advertise on Google
How much does it cost to advertise on Google? In 2024, the average cost is $4.66 per click. However, this varies depending on the keywords your ad is targeting, your industry, and your overall ad campaign budget, among other factors. But one of the best things about Google Ads is that they’re suitable for any…