The high-low method in accounting is the simplest and easiest way to separate mixed costs into their fixed and variable components. By using this method, we observe only the highest and lowest points in the data set with the assumption that all the data have a linear relationship. We use the high-low method accounting formula…
What is
What Is Double-entry Accounting or Bookkeeping?
Double-entry accounting, a fundamental accounting concept that has been used for centuries, is a systematic method of recording financial transactions that ensures accuracy and accountability. “Double entry” comes from the fact that every transaction involves at least two accounts, with debits and credits entered to maintain a balance. This approach follows the accounting equation where…
What Is a Business Insurance Deductible?
A business insurance deductible is the amount of money that a policyholder and insurance carrier agree upon will be paid by the policyholder in the event of a claimable loss. This amount is paid first by the policyholder before anything is paid out under the policy. How a Business Insurance Deductible Works How a business…
Payroll Software Integration: What It Is & How It Works
Payroll software integrations allow you to sync your payroll system with other software used to help run your business. It saves you from having to enter the same payroll information into separate programs—and sometimes even allows your employees to do some of the work for you (such as with employee self-service programs). Payroll software commonly…
Investment Property Line of Credit: What It Is & How It Is Used
An investment property line of credit is a revolving loan that allows you to draw funds on an as-needed basis. When you make a draw from the credit line, the money can be deposited into your bank account. Popular uses for the funds include paying for property improvements, repairs or other expenses that fix-and-flip or…
Jury Duty Policy: State-by-State Guide (+ Free Sample)
When an employee receives a court-ordered document calling them for jury duty, you, as the employer, must provide them with time off to attend to it. This is where having a jury duty policy will come in handy—it will outline who is eligible, whether it is paid, and what process to follow. Although federal law…
9 Items to Include in a Winning Prelisting Package (+ Free Checklist)
A prelisting package (a pitch packet or pitch deck) is a document you send to sellers before a meeting to introduce yourself and explain why they should list with you. It includes a personal introduction, marketing plans, and performance statistics to show potential clients that you understand today’s market and are valuable to their homeselling…
What Is a Scrum Board? Everything You Need to Know
A scrum board is a visual tool that breaks down tasks in a project into sprints or specific periods of time in which the work must be completed. Often used in software development projects, it improves team collaboration, as everyone sees the tasks and progress in real time. It lets managers immediately spot bottlenecks that…