Direct materials are goods that physically become the finished product at the end of the manufacturing process. In other words, these are the tangible pieces or components of a finished product. If the different materials are not interchangeable, then separate price and usage variances can be calculated. However, if substitution of one material for another … Read more
Here are a few pre-made workflows to show you what’s possible, but you can use Zapier to connect QuickBooks to almost any app you use. Every business is unique, and there may be instances where QuickBooks Desktop may be a better fit. For example, it may be more suitable for businesses with complex inventory management … Read more
Consequently at the end of each accounting period the business carries out a suspense account reconciliation. Any balance is investigated so that correcting adjustments can be made before the final financial statements are issued. Accordingly irrespective of the issue resulting in the suspense account posting, at the end of the accounting period the account balance … Read more
This is best for contractors who are constantly at job sites who want a simple mobile app to use to manage and capture data that integrates immediately with the platform. If you want to unlock advanced estimating and bill management, you will want the Advanced plan for $699 per month. Janet Berry-Johnson, CPA, is a … Read more
Changes made by one user are immediately visible to others, ensuring everyone is working with the most current information. This collaborative approach fosters transparency, improves accuracy, and speeds up decision-making processes, making managing finances collectively and effectively easier. If you didn’t receive an email don’t forgot to check your spam folder, otherwise contact support. One … Read more
In construction, costs are incurred at varying stages, and revenues are realized only as project milestones are reached, making cash flow management and financial tracking challenging. At NorthStar Bookkeeping, we help construction firms develop clear accounting processes that fit the industry’s demands. With years of experience in construction bookkeeping, our team can provide the expertise … Read more
Accounts payable refers to one aspect of working capital management that companies can take advantage of that they often have greater control over. When forecasting debt, consider any ratios within the debt covenants that the company would need to satisfy. You can also benchmark your projected debt ratios against the historical ratios of your publicly-traded … Read more
It determines the total cost of each job based on the specifications provided for the project. This process helps contractors understand the profitability of each project and make informed decisions about resource allocation and pricing. Tools like Planyard simplify the process by automating routine tasks, providing real-time financial visibility, and integrating with existing accounting software. … Read more
