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Wood is the raw material, but it must be received, processed, , and properly stored. Machinery is needed to convert large pieces of wood into toothpicks and add a coating manufacturing accounting to the wood. Packaging must be manufactured in-house or by a vendor, and the toothpicks then need to be boxed as finished goods […]

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A balance sheet must always balance; therefore, this equation should always be true. The column of amounts that is closest tothe words will be the most recent amounts. The older amounts provide a reference point from which to make comparisons. As you broadening the tax base and raising top rates are complements not substitutes can […]

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The contribution margin ratio takes the analysis a step further to show the percentage of each unit sale that contributes to covering the company’s variable costs and profit. The Contribution Margin Ratio is a measure of profitability that indicates how much each sales dollar contributes to covering fixed costs and producing profits. It is calculated […]

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The statements should also be reconciled to the agency management system and the accounting system. If the agency does not have one of the more sophisticated management systems to track monthly commissions, it is recommended that all of the monthly commissions be entered into a simple spreadsheet as depicted below. While some states may not […]

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Think of an ACH transaction as the electronic flow of funds from one bank account to another. These funds travel through the ACH (Automated Clearing House) network, which connects thousands of financial institutions across the nation. With Helcim, you get everything you need to accept credit card payments, plus high-quality support from real humans. ACH […]

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