For instance, a phone call lasting 1-6 minutes would be billed for .1 hours, while a phone call lasting 7-12 minutes would be billed at .2 hours. The charge is calculated by multiplying the hourly rate by the time spent. It gives you the data you need to forecast revenue, […]

Note that transactions may take a few days to clear, so the transaction date in your financial records may not precisely match the date on your bank statement. Investigate the source of the discrepancies and make the necessary adjustments to the accounting records or the bank statement. Highlight any discrepancies […]

According to the IRS, this is a “qualified intermediary, transferee, escrow holder, trustee or other person that holds exchange funds for you in a deferred exchange” under the applicable terms. Continuing the previous example, the new property has a total basis of $550,000. The $350,000 exchanged basis is depreciated over […]

Bookkeeping helps you answer all of those questions, and in turn, assess the financial health of your company. You’ll get a sense for where you stand, what you can work on, and come up with a plan for getting even healthier. So, while a lot of people think of bookkeeping […]

From an investor’s perspective, OCI provides insights into earnings that do not affect cash flow yet but may do so in the future. For accountants, it represents a more conservative approach to recognizing income and expenses only when they are realized. Meanwhile, financial analysts might view OCI as a source […]

A high DPO can mean a healthcare company has extra cash for business activities. But lowering the DPO can positively impact your vendor relationships and may reduce errors like duplicate payments of invoices. Ultimately, without a crystal clear view into your invoices and payment dates, you won’t be able to […]