Economic Order Quantity: What Does It Mean and Who Is It Important for?

Economic Order Quantity shows business owners if current order quantities are reasonable or not. One of the biggest problems that affect the profitability of a business is balancing its inventory orders with the demand for the inventory in the marketplace. At Finance Strategists, we partner with financial experts to ensure the accuracy of our financial [...]

Por |2024-09-12T21:33:25+00:00enero 26th, 2024|Bookkeeping|Sin comentarios

What Is The Monetary Unit Principle? Guide

This principle allows businesses to compare their financial performance with other organizations using the same common currency. Moreover, the monetary unit assumption facilitates international business transactions. This means that companies can be more transparent and comparable in their financial statements, regardless of their location. The Monetary Unit Assumption is a fundamental principle in accounting that [...]

Por |2025-01-17T23:29:45+00:00mayo 18th, 2023|Bookkeeping|Sin comentarios

Mastering Finances: 5 Accounting Tips for Content Creators

However, if your content creation or influencer activity consistently fails to earn a profit, the IRS might categorize it as a hobby. For content creators, many personal assets double as business tools. Your home is not just where you live but potentially your filming studio. Your smartphone is not just for personal calls but also [...]

Por |2024-09-10T22:31:31+00:00julio 12th, 2022|Bookkeeping|Sin comentarios

Accounts Receivable Turnover Ratio Calculator

It most often means accountants fort wayne that your business is very efficient at collecting the money it’s owed. That’s also usually coupled with the fact that you have quality customers who pay on time. These on-time payments are significant because they improve your business’s cash flow and open up credit lines for customers to [...]

Por |2024-09-06T18:38:36+00:00enero 19th, 2022|Bookkeeping|Sin comentarios

8 Things To Know Before You Get A Business Credit Card

Secured credit cards are a type of credit card where the cardholder secures the card with a security deposit. Such cards offer limited lines of credit that are equal in value to the security deposits, https://www.bookstime.com/ which are often refunded after cardholders demonstrate repeated and responsible card usage over time. These cards are frequently sought [...]

Por |2024-10-02T09:39:54+00:00diciembre 31st, 2021|Bookkeeping|Sin comentarios

What Is a Bill of Materials BOM?

Conversely, a Multilevel BOM reveals the components and the relationship between them, displaying a cascading structure of how each part fits into an assembly. It’s essential for complex products where understanding the product’s architecture is crucial. This type of BOM is distinguished from others by its focus on design phase requirements and in-depth data needed [...]

Por |2024-09-17T13:49:07+00:00junio 21st, 2021|Bookkeeping|Sin comentarios

Challenges in Billing for Behavioral Health Services 2025

Mental health billing involves submitting claims to insurance companies to receive reimbursement for services like therapy, counseling, psychiatry, and other mental health treatments. Unlike general healthcare billing, mental health billing has unique requirements and considerations due to the sensitive nature of patient care. Within the complexities of mental health billing, practitioners and institutions strive to [...]

Por |2025-01-08T12:20:08+00:00abril 5th, 2021|Bookkeeping|Sin comentarios

Chart of Accounts COA Definition, How It Works, and Example

Doing this will help you stay organized and better understand how your business is doing financially. Charts of accounts are an index, or list, of the various financial accounts that can be found in your company’s general ledger. These accounts are separated into different categories, including revenue, liabilities, assets, and expenditures. A simple way to [...]

Por |2024-09-13T00:11:32+00:00octubre 15th, 2020|Bookkeeping|Sin comentarios