The allowance applies only for the first year you place the property in service. The allowance is an additional deduction you can take after any section 179 deduction and before you figure regular depreciation under MACRS for the year you place the property in service. You may have to recapture the section 179 deduction if, […]

Period costs can be separated by category on the income statement to help understand what the costs are and how much is spent on each. This way you’ll have a better idea of the expenses and give a better idea of the net income of your company. In addition to categorizing costs as manufacturing and […]

Purchase journal is the special journal that uses to records all of the transactions related to purchases on credit. You should update your purchases journal as often as necessary to reflect the most current information. This may be daily, weekly, or monthly, depending on the type of business you run and the products and services […]

“I’m excited to help shape the future of our Chicago market by fostering a culture of excellence, collaboration, and purpose-driven service that showcase YPTC’s values and commitment to the sector,” she says. “We are deeply committed to building lasting relationships in this market—not just with clients, but with the broader nonprofit community.” The scale and complexity […]

This invoice template simplifies the process by categorizing expenses, making it easy to manage costs and ensure accurate financial reporting. Our construction invoice templates are designed for various industries, including landscaping, general contracting, plumbing, electrical work, roofing, HVAC, and more. These templates offer a clear, professional, and structured format to streamline invoicing, improve accuracy, and […]

Gross profit measures the revenue a business earns after deducting the cost of goods sold. It’s an important metric for assessing how efficiently a business covers its production costs in relation to its total income from sales. Profit margins are used to determine how well a company’s management is generating profits. It’s helpful to compare the profit margins […]

The complex, time-consuming projects often require extended periods for completion and invoicing. On the other hand, retail companies, which often work on cash transactions or short-term credit, are likely to show a lower DSO. The Net DSO’s major benefit is that it removes the impact of doubtful debts, providing a clear-cut view of the collection […]

As with any business, a successful dog daycare requires the right technology, dedication, love for the job, and smart business strategies. However, efficient business management and a keen eye on cost control allow careful businesses to achieve much higher profit margins. Exploring government and private grants aimed at What is bookkeeping childcare services can also […]

S&S Financial Services, L.L.C. is a business consultant that has been serving clients throughout the Overland Park area for over 12 years. Founder Sydney Shaw is a member of the American Institute of Certified Public Accountants (AICPA). Click here to set up your free one hour consultation! We can help with any business bookkeeping services, […]

For instance, production managers are responsible for their specific area and the results within their division. Accordingly, these production managers need information about results achieved in their division, as well as individual results of departments within the division. The company can be broken into segments based on what managers need—for example, geographic location, product line, […]