Category: Bookkeeping

The three main types of expenses are fixed expenses, variable expenses, and periodic expenses. Fixed expenses remain constant, variable expenses fluctuate with business activity, and periodic expenses occur at regular intervals but less frequently. Variable expenses are costs that change depending on the level of production, sales, or usage. Unlike fixed expenses, which remain constant…

They are often used for higher-value payments or when speed is a priority. Nonetheless, wire transfers typically come with fees, both for the sender and potentially for the recipient. Agreeing on a stable payment currency helps minimise uncertainty and may improve satisfaction. Consider platforms or systems supporting multi-currency payroll and competitive exchange rates where possible.…

It’s madness to not look at a governmental financial statement just as you would for any other substantial investment given the amount of money you pay in taxes. Donating money blindly without making sure that it’s getting to those who need it is the same. FASB standards dictate specific rules for recognizing contribution revenue, which…