The marginal cost is the change in total production cost that comes from making or producing one additional unit. Marginal revenue, on the other hand, is the increase in revenue that comes from the sale of one additional unit. Thus, the marginal cost of producing the second bottle of juice is $13. The final step […]
Content The importance of COGS Introduction to Liquor Cost Examples of Fixed Costs How do you interpret ROI calculations? The value between cost and profit The budget is required to calculate the amount of raw material that needs to be purchased for the production process and estimate the related costs. Cost AccountingCost accounting is a […]
We liken an outsourced e-invoicing solution to a chauffeur-driven service where the vehicle is selected based on the objective of the journey. The importance of invoicing to any business leads to a fear of ‘giving away’ any control over this. While such protective yearnings are just part of being human, it’s sometimes better to let go. Consider […]
Content IOLTA Basics LeanLaw is software designed for the specific needs of law firm accounting and management. Keep Separate Business and Client Accounts How Do I Make Sure I Manage My IOLTA Account Properly? Ensure IOLTA Account Compliance with LawPay While multiple client funds can be held in a law firm’s IOLTA account, the interest […]
It depends—if you are using your vehicle solely for business purposes, you may be able to write off the auto insurance premium, along with other important car expenses like fuel, oil changes, and depreciation. Keeping track of all of your vehicle expenses with FreshBooks will ensure that your receipts and proofs of purchase are recorded […]
Without account reconciliation, businesses would have a hard time identifying and preventing balance sheet errors, which could raise concerns in the event of an audit. They would also have more difficulty flagging potential instances of fraud or theft. This type of reconciliation happens when a parent company unifies all the general ledgers of its subsidiaries […]