While federal law sets the minimum wage at $7.25 per hour, states may have different minimum wage rules. For instance, in Wisconsin, a tipped employee’s hourly wage can be as low as $2.13 per hour. By contrast, New York sets a flat minimum rate of $15 per hour for all...

In this article, we see what drawings imply, a brief explanation of debit and credit, whether drawings are debit or credit, and their journal entries. When a financial transaction occurs, it affects at least two accounts. For example, purchase of machinery for cash is a financial transaction that increases machinery and decreases...

ContentWays to Fully Utilize Bookkeeping in EcommerceWhat is E-commerce Bookkeeping?How is ecommerce accounting different than traditional accounting?business day email response timeThe Gen Z Effect: Redefining Social Commerce in the Era of “Digital Natives”Planning for growth The online world will always debate the role of ecommerce accountants; some believe traditional accountants...

Most likely, you’ll be working with people from different cultures and time zones. I can’t stress enough that having effective communication is the linchpin for success when it comes to offshoring. While it might incur a slightly higher cost, the returns in terms of quality and productivity often far outweigh...

The Premium plan ($399 a month if billed annually or $499 billed monthly) adds tax advising services, end-of-year tax filing, and financial strategy planning. Looking for a scalable outsourced bookkeeping service with flexible payment options? Every inDinero plan includes a dedicated account manager, direct employee reimbursements, some inventory management, and...

ContentWhat is a journal entry of cash sales for the amount of Rs.4,500?How do changes in accounts receivable impact a company’s cash flow statement?General JournalCreate a free account to unlock this Template A credit sale journal entry is an accounting transaction used to record the sale of goods or services...

Wage garnishments add a layer of complexity to payroll processing that requires careful attention to detail. Different types of garnishments (e.g., child support, tax levies, student loans) may have different priority levels and maximum withholding limits. Additionally, federal and state laws often protect employees, limiting the amount that can be...

ContentCan I do my own bookkeeping for my business?Better Financial RecordsHow long should you keep records for bookkeeping?How Does Bookkeeping Differ From Accounting? It shows if your business is able to pay its debts as they come due which is a component potential lenders and investors are interested in. Knowing...

This extended timeframe can make warrants more attractive for long-term investors who are confident in the company’s future prospects. Additionally, the exercise price of warrants is often set at a premium to the current 3 5 notes receivable financial and managerial accounting stock price, reflecting the long-term growth expectations. Options,...

Whether you’re working with a single client or dozens, it’s important to protect yourself and your client by getting everything in writing from the outset. Any notices, bills, invoices, or reports required by this Letter shall be deemed received on the day of delivery if delivered by hand, standard mail,...