OverviewBefore we explain what a flexible budget is we need to step back and have a look at what a static or fixed budget is. The budget made during the planning for the coming calendar year or any other period is usually fixed. Here, the budget is s... Read more
OverviewThere are different methods for analyzing financial statements, the choice of which depends on the specific tasks that have been set and on the amount of information. The most used are horizontal and vertical analysis. They are used by many c... Read more
OverviewViewing raw data in financial statements can be relatively pointless without some yardstick against which to compare the numbers. Vertical analysis solves this problem by linking all items in the financial report to one item, forming a so-cal... Read more
ProsCustomizationInvoicing and estimatesInventory managementTaxesBank reconciliationFinancial reporting and dataProject managementOnline plus mobile appsData backupAffordable pricing and free trialConsLimited integration with other appsNo payroll ad... Read more
ProsSimple to add employeesAutomated payrollOnline timesheetsSeamless tax filing processNumerous HR functionsMobile appGreat customer supportConsAmbiguous pricing No advanced featuresOverviewDoing payroll manually can be complex due to various taxes... Read more
BookkeepingYou have probably heard about bookkeeping more than once and you know that it is a part of any business. With the help of bookkeeping, owners and managers constantly receive reliable information about:Assets that they own;How much money th... Read more
Regardless of the form of ownership, any organization has to keep bookkeeping records. Bookkeeping organizes information about the assets and liabilities of an enterprise in monetary terms and records the business transactions that have occurred. Cor... Read more
A corporation is a legal entity owned by shareholders, the authorized capital of which consists of shares. Each ordinary share gives the same rights to its holder in matters of management and receipt of dividends. The existence of the Corporation beg... Read more
The main financial goal of a business is to maximize profits. The financial position of a business depends on the availability and structure of economic resources, which are called its assets and capital. The relationship between these two is reflect... Read more
Retained Earnings and Accumulated DeficitWhen you look at the Profit and Loss Statement, the final number will be a Net Income or Net Loss, depending on how much money an organization has made less all the expenses, etc. Retained earnings is the net... Read more
