Yes, accounts receivable turnover can be used as one of the metrics to assess a company’s creditworthiness. A higher turnover ratio suggests better credit management and a lower risk of default, while a declining ratio may raise concerns about the company’s ability to collect payments in a timely manner. Use this accounts receivable turnover calculator… Continuar lendo Accounts Receivable Turnover Ratio Formula and Calculation

The best practice as suggested by the IRS is to ensure availability of proof for all expenses over $75, especially when deducting these as business expenses or in the case of an audit. Nowadays, online accounts provide most of your spending information, so physical paper receipts are no longer needed. When closing business accounts, be… Continuar lendo IRS Receipt Requirements

Regular reviews help in detecting potential errors or fraudulent activities, thereby safeguarding the financial integrity of the business. It also streamlines the reconciliation process, providing a clear and up-to-date financial overview for informed decision-making. Reviewing transactions in QuickBooks Desktop is essential to identify any discrepancies and ensure that the recorded transactions correspond accurately with the… Continuar lendo Reconciling Accounts in QuickBooks: Step-by-Step Guide