Category: Bookkeeping

You might want to automate your accounting to eliminate errors, have your transactions categorized correctly and funds allocated properly. Book your seat at our Weekly Public Demo to see how you can do it with Synder, or explore it yourself with a 15-day all-inclusive free trial. @lynda and Matthew @ParkwayInc here to give you a live discussion on what […]

Form 1099-NEC is a new form for tax year 2020 that must be used to report payments of $600 or more made to individuals or companies for services performed. The due date for sending out forms to recipients is February 1, 2021, and the due date for filing with the IRS is March 1 (or […]

Select a conversion type and the desired units. This table provides a summary of the Length or Distance units within their respective measurement systems. All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. In Japanese typography, these square symbols are used for laying out unit […]

In other words, operating leverage is the measure of fixed costs and their impact on the EBIT of the firm. In the table above, sales revenue increased by 10% ($62,500 to $68,750). However, it resulted in a 25% increase in operating income ($10,000 to $12,500). It does this by measuring how sensitive a company is […]

When one of these statements is inaccurate, the financial implications are great. (Figure)Identify which of the following accounts would be listed on the company’s Post-Closing Trial Balance. (Figure)Identify which of the following accounts would not be listed on the company’s Post-Closing Trial Balance. How the Post-Closing Trial Balance Influences Business Valuation and Fiscal Health The […]

Taxpayers with an ITIN can complete the registration process to access their IRS online account, which provides balance due, payment history, payment plans, tax records, and more. Acceptance Agents are entities (colleges, financial institutions, accounting firms, etc.) who are authorized by the IRS to assist applicants in obtaining ITINs. They review the applicant’s documentation and forward […]

Bench assumes no liability for actions taken in reliance upon the information contained herein. When you’re ready to let your tax filing be handled by a pro, let Bench do your books and file your taxes. Beyond our year-round financial reporting support, you get access to our in-house tax advisory team. If your business is […]

Content How often should you calculate your predetermined overhead rate? Predetermined Overhead Rate Example How to predict overhead costs How to Determine Overhead Applied to Work in Progress Financial Controller: Overview, Qualification, Role, and Responsibilities Pre-determined overhead rate A predetermined overhead rate is mainly useful in the manufacturing industry to ascertain the company’s manufacturing overhead […]

For example, we have determined that the average selling price for Android smartphones is $261. Let’s say you’re trying to determine a price for your new state-of-the-art cell phone. You would likely price your product above the average to stand out as a high-tech phone provider. The average inventory turnover ratios for ecommerce can act […]

The latter only applies if you hold your accounts outside the United States. If you maintain your account in the U.S., you can leave the second line blank or write “N/A.” If you’re unsure about your exemptions, Page 3 of the form outlines situations that would make you exempt. The W-9 form allows businesses to […]