Category: Bookkeeping

Over the years the demand for bookkeeping services has witnessed a steady increase. In 2022, the Bookkeeping services industry was estimated to be worth about $65 billion, with an annual growth of 2% between 2017 to 2022. To learn more about our bookkeeping courses and gain the knowledge and confidence needed to launch your bookkeeping […]

Community-owned banks like Regional Australia Bank and Beyond Bank prove that strong defences are achievable for institutions of all sizes. Imagine waking up to find that someone has drained your bank account overnight. This is the reality of account takeover (ATO) fraud, one of the fastest-growing financial crime threats worldwide. In Australia, with digital banking […]

For example, if direct materials cost $5 per unit and a scenario anticipates 10,000 units, the budgeted direct material cost would be $50,000. Fixed costs are then added to these variable cost totals; since fixed costs remain constant within the relevant range, they are included at the same amount across all activity levels. This combination […]

While BambooHR is primarily known for its human resources management capabilities, it also offers expense management features that integrate seamlessly with its HR platform. BambooHR’s expense management tools include expense tracking, reimbursement processing, and integration with payroll systems. This integration provides a unified approach to managing employee expenses alongside other HR functions, making it ideal […]

Our calculator is designed with simplicity in mind, making it easy for anyone to input data and get accurate results within seconds. Gain insights into how commission affects your sales and revenue. Acalculate.com provides comprehensive, accurate, and efficient online calculation tools to meet various calculation needs in study, work, and daily life. For example, a […]

You must first create the Spend Money/Payment using the “Make a Cash Refund” section at the bottom of the OP/PP transaction form. On 15 Feb you invoice the client for services totalling $2000 + GST ($2,100.00). This method treats the payment as a deposit, and use credit note to represent the customer’s credit. You must […]

The resulting three is allowance for doubtful accounts a permanent account separate amounts are added and converted to a percentage based on the total sales amount. You can see from these few T accounts that although total gross revenues are $1 million, we have created a matching expense that records the estimated amount that will […]

LIFO is often used in industries where the cost of goods tends to increase over time, such as during periods of inflation. This is because LIFO matches the most recent costs with the revenue generated, which can give a more accurate representation of the company’s profitability. The First-In, First-Out (FIFO) method assumes that the first unit making […]