A bill of lading is an accounting legal document that outlines the information of a freight shipment. It includes product types, quantity, price, and more.| Deskera Blog
The efficiency ratios are the financial ratios used to measure the efficiency of the operation of a business.| Deskera Blog
Jump Start Your Growing Business with Deskera. Get Amazing Insights to Grow & Run Your Business With Articles on Accounting, Sales, Human Resources and More| Deskera Blog
There are two different types of income statement that a company can prepare such as the single-step income statement and the multi-step income statement.| Deskera Blog
Vendor management can be defined as the amalgamation of activities you undertake to keep a close watch on all your vendors. The process of examining and supervising a company's overall relationship with a vendor is referred to as vendor management.| Deskera Blog
Depreciation represents the decrease in the value of an asset due to its continuous deterioration through its useful life. Companies calculate depreciation to estimate how much their assets have decreased in value over time.| Deskera Blog
Unit of Production method calculates the depreciation for the asset when the asset’s value is closely related to the number of units produced| Deskera Blog
The straight-line depreciation method depreciates the value of an asset gradually, and linearly, over the years it is used.| Deskera Blog
Want to learn how to make the perfect journal entry? Learn everything there is to know about journal entries, and how to use accounting software to make them.| Deskera Blog
An element or resource that is not physical but assigns a considerable value to a company is called an intangible asset. Besides this definition, this post offers insights in: * Description of Intangible asset * Difference between Tangible and Intangible assets * Types of Intangible assets * Characteristics of Intangible assets * How to value| Deskera Blog
All accounting entries need to be tagged to general ledger accounts. A chart of accounts (COA) is a list of all such general ledger accounts. It contains details of each individual general ledger account including 'Account Code', 'Account Name', 'Account Type', and 'Account Balance'.| Deskera Blog
Cost of Goods Sold = (Beginning Inventory Value - Ending Inventory Value) + Total Inventory Purchases + Direct Costs. Learn with FIFO & LIFO examples| Deskera Blog
Bookkeeping is the systematic, daily recording of a business’s financial transactions.| Deskera Blog
The income statement is a comprehensive breakdown of your company's operating and non-operating expenses and revenue.| Deskera Blog
Auditing is a review and verification of your financial documents which ensures transactions are accurate and legally compliant.| Deskera Blog
Salvage value is defined as the book value of the asset once the depreciation has been completely expensed.| Deskera Blog
A depreciation schedule is a table that represents how much an asset’s value has been used up over the years.| Deskera Blog
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Fixed costs are those expenses that remain constant regardless of your production. Variable costs are those expenses that change with your production levels| Deskera Blog
Accrual Cash and Modified-The key difference between the three is the time frame under which the various transactions are allocated.Here are the advantages and disadvantages of each for your Business| Deskera Blog
Bookkeeping not only keeps you in charge of your finances but also helps you take better financial decisions. Therefore, you'd do well to acquaint yourself with bookkeeping basics as an entrepreneur.| Deskera Blog
Balance sheet (also known as Statement of Financial Position) is one of the 3 important financial statements. Alongside with Income Statement and Cashflow Statement, it helps to reveal a company's overall financial health.| Deskera Blog
Liability is usually a sum of money that a person or a company owes. Liabilities can be credit from business events, which are viewed against a company’s assets.| Deskera Blog
Operating costs are expenses incurred by a business to carry out its operations. These are variable costs as they change with the production level.| Deskera Blog
A complete description of the physical assets that are responsible for your personal or business cash flow is now termed as tangible assets.| Deskera Blog
Fixed assets are tangible, long-term items not intended for sale as inventory. Shown on the balance sheet, fixed assets lose value over time if depreciated| Deskera Blog
The Financial Statements - Balance Sheet, P&L & Cash Flow Statements are used by investors, market analysts, and creditors to evaluate a company's financial health and earnings potential.| Deskera Blog
Depreciation is a term in accounting that refers to the process of allocating the cost of an asset your company bought (like machinery, heavy equipment, property, etc.) over the period of its lifecycle.| Deskera Blog
Assets are what a business owns, and liabilities are what it owes. The difference between the two equals equity, the net worth of the business.| Deskera Blog
Amortization is a technique to calculate the progressive utilization of intangible assets like software, patent or copyright in a company.| Deskera Blog
An intangible asset is a non-physical asset with long-term financial worth for firms. It includes Copyrights, Trademarks, Patents, Licensing, and more.| Deskera Blog
A Balance Sheet offers a snapshot of your company’s financial position at a moment in time. The Balance Sheet helps you answer the questions: - How much does your business own? - How much does your business owe? - How much was invested by your own fund, or shareholders funds?| Deskera Blog
Let’s find out what owner’s equity really is, and distinguish it from some of the other commonly used terms categorized as owner’s funds in business accounting.| Deskera Blog
What is Profit and loss and P&L Statement- the Key Elements, Types , Use cases and prepare a Profit and loss Statement| Deskera Blog
Qualified Business Income (QBI) refers to the net amount of income, gains, deductions, and losses from a qualified trade or business.| Deskera Blog
Calculating and Paying employees for their work is Payroll.The payroll involves distribution of salaries, wages bonuses, deductions and net pay on a timely basis| Deskera Blog
The general ledger is a recording-keeping system of a company’s financial transactions. Read our guide to learn how to create a ledger for your business.| Deskera Blog
Financial reporting is an accounting practice that uses financial statements to disclose important information about the financial health of a business.| Deskera Blog
Accounts payable is a critical business process through which all companies track and manage their payable obligations efficiently and effectively.| Deskera Blog
Fixed overhead costs can include rent, mortgage, utilities, depreciation of assets, insurance, property taxes, annual salaries, and government fees.| Deskera Blog
Cash flow refers to the money moving in and out of the business. Cash flows are found in operations, investing and financing functions of the business.| Deskera Blog
A business budget is a spending plan based on your income and costs for your company. It determines your available capital, forecasts your spending, and aids in income forecasting. A budget can assist you in planning your business activities and serve as a benchmark for establishing financial goals.| Deskera Blog
Expenses in accounting are the cost of doing business, including a sum of all the activities that will hopefully generate profit for you.| Deskera Blog
The cost of goods sold (COGS) is a significant part of a business Income Statement and plays an essential role in calculating the net income for a business. Understanding the cost of goods sold (COGS) helps businesses to find out about their financial health and profitability.| Deskera Blog
In depth coverage of cash flow statements, with preparation, calculations and examples. Download ready to use cash flow statement templates for free.| Deskera Blog
