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Archive for December, 2008

Yes Virginia, the four statements really do tie into each other

Posted on Dec 15, 2008 in Financial Statements & Taxes No Comments »

Simple. Tie net income (loss) on the statement of operations to the statements of cash flow and changes to equity. Tie cash on the balance sheet to the statement of cash flow. Tie total equity on the balance sheet to the statement of changes to equity. If they all match, your four statements are in […]

When tax planning isn’t necessary

Posted on Dec 15, 2008 in Financial Statements & Taxes No Comments »

We all fall into the trap on occasion – how does this affect taxes? Sometimes a thorough analysis of the tax effect is warranted. However, most decisions should not consider a myriad of tax codes and rather, simply hinge on whether or not it is practical. articulo 165

Short-term v. long-term classification

Posted on Dec 15, 2008 in Financial Statements & Taxes No Comments »

Careful attention to balance sheet classification is imperative for proper ratio analysis. Short-term assets and liabilities are generally to be turned into cash or spent during the next 12 months. Correspondingly, long-term assets are depreciated o order viagra pills r amortized and long-term liabilities are paid over a timeframe greater than one year. amoxicillin fast

Sales Tax 101

Posted on Dec 15, 2008 in Financial Statements & Taxes No Comments »

Ship it to an out-of-state customer, not required to collect sales tax. Ship it to an in-state, in-county or in-city customer, collect applicable sales tax. Customer picks it up, collect maximum applicable sales tax. Remember, based on shipping address, not billing address. And always review instructional materials for exceptions, inclusions and allowances. aeromate

Monthly reports are good; Quarterly reports are better

Posted on Dec 15, 2008 in Financial Statements & Taxes 1 Comment »

While monthly benchmarks are critical to most businesses, analysis of monthly financial information is generally skewed due to special circumstances – days open for business or frequency of payroll runs. Quarterly analysis proves much smarter as the positive or negative monthly spikes are flattened by a longer reporting period. Thus, true trends can be spotted, […]

Cash Basis v. Accrual Basis

Posted on Dec 15, 2008 in Financial Statements & Taxes No Comments »

While accounting and tax regulations permit cash basis presentation, all companies would be best served to account for transactions under the accrual basis of accounting. This latter method reflects the complete operating picture of the business. Accrual basis reflects customer receivables, vendor bills and personnel payables rather than just incoming receipts and outgoing disbursements as […]

What’s your commission rate?

Posted on Dec 15, 2008 in Personnel No Comments »

Sales commissions. Make it too rich you risk staff dissension. Make it too complex you create more issues than incentive. The ideal commission promotes enthusiasm and teamwork. Understand your company’s culture before implementing any commission plan and then keep it consistent. adventure school

Semi-monthly v. Bi-weekly

Posted on Dec 15, 2008 in Personnel Comments Off on Semi-monthly v. Bi-weekly

Sure, 24 pay periods versus 26. But from an accounting point of view, simple versus cumbersome. Clean cutoff is always desired so end-of-month timing under the semi-monthly method works best, especially if a majority of your employees are salaried. Otherwise, several accrual adjustments must be made. adobe acrobat download zp8497586rq orlistat diet tablets

Outsource payroll

Posted on Dec 15, 2008 in Personnel Comments Off on Outsource payroll

microsoft oem software utsourcing payroll, no matter the size of the business, makes considerable sense in light of the myriad of potential penalties should errors be made. And the cost to do so is relatively cheap compared to the headaches in replying to notices from federal and state agencies. It is far easier to worry […]

Detailed timekeeping is not just for professional disciplines

Posted on Dec 15, 2008 in Personnel Comments Off on Detailed timekeeping is not just for professional disciplines

best computer softwareure, attorneys and electricians bill out their time. All service providers do. But every business would benefit from some sort of employee reporting of how time is spent performing duties. It makes employees accountable and furnishes employers with more concrete performance evidence for periodic reviews. 765qwerty765 canadian antibiotics no prescriptions

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