Because of these differences, legal professionals need accounting systems and procedures tailored to the unique demands of the profession. This includes managing operating accounts, handling client trust funds, tracking expenses, and ensuring all billing and reporting practices adhere to legal and ethical standards. Law firms face unique accounting challenges when [...]

Real estate agents typically work with irregular, commission-based income while managing consistent monthly expenses. Marketing costs, office fees, software subscriptions, licensing, and travel expenses continue regardless of deal flow. Without a structured bookkeeping system, it becomes difficult to track profitability, manage cash flow, and plan for future growth. Understanding Payroll [...]

Their balances remain, providing an ongoing record of each account’s cumulative activity. ” Indeed, it includes short-term debts such as unearned revenue, accounts payable, or wages payable, and long-term liabilities such as loans or mortgages payable. They record the long-term financial activities of a business, creating an ongoing narrative of [...]

From generative AI to completely automated workflows, Entrata’s versatile and unified platform helps you streamline operations to focus on creating first-class resident experiences. Consolidate all of your apps and paperwork into one powerful and easy-to-use rental management software and manage your rentals from anywhere. Plus, streamline your rental application and [...]

For example, the market price of a share of ABC Company stock may be $50 as of yesterday’s market close. If the market price of a company’s stock is currently $125 and the intrinsic value is calculated at $118, then an investor may decide the stock is too expensive. Let’s [...]

And it helps companies find ways to avoid a backlog of excess or obsolete inventory. It’s useful for pinpointing the amount of inventory required to replenish deliveries every two weeks. It helps determine the minimum safety stock needed to provide an insurance policy against supply chain problems either from manufacturing [...]

To learn more about how Deel operates and to determine whether it’s a good fit for your team, request a free demo. You can be certain your remote workers are following the company guidelines for working the appropriate number of hours, too. By automating this process, Deel gives you accurate [...]

Consider Xero’s accounting software for nonprofits that need detailed project reports and the ability to compare actual reports to alternative scenarios for planning. It’s a good idea to make use of nonprofit accounting software, which comes built-in with the features you need to keep your nonprofit’s accounting on track. Choosing [...]

For example, Gross Profit is Revenue minus Cost of Goods Sold (COGS), while Net Profit is what remains after all operating expenses, interest, and taxes are deducted. Simulation tools allow employees to model how changes in benefits elections or tax withholding would affect their take-home pay before committing to decisions. [...]

The security guard, human resources department, and administrators would not be considered direct labor. Even if these workers are running the machines that are building the backpacks, they would be considered direct laborers. Direct labor is the term for the work directly involved in making a product or performing a [...]