Selling expenses are the expenses that may occur directly or indirectly related to the sale of goods, including salespeople’s salaries, advertising expenses, commissions, warehouse cost, and shipping cost. They are usually the expenses that occur for taking orders and fulfilling them. Understanding the income statement is crucial

In the world of tech companies, especially those offering software as a service (SaaS), the accounting team acts as the Accounting For Architects control panel. This team manages every transaction, ensuring companies recognize revenue correctly, monitor key performance indicators, and keep the burn rate in check. If

We follow generally accepted accounting principles, as well as local and federal tax guidelines. We understand the issues facing  sole proprietors, LLC’s, and small corporations. This bundle is more robust and essential for established businesses that choose to save money by partnering with a bookkeeper subcontractor versus hiring an employee to

A current asset which indicates the cost of the insurance contract (premiums) that have been paid in advance. It represents the amount that has been paid list of expenses in accounting but has not yet expired as of the balance sheet date. A company’s net income from