Category: Bookkeeping

It’s hard to beat free accounting software, especially if you’re running a small business on a budget. Wave’s free plan offers a decent number of features, like unlimited invoices, that are not always included with other free accounting software options, let alone paid accounting software plans. It also complies with accounting standards and uses double-entry…

When choosing the right accounting method, you should consider your business’s unique needs and objectives. It has a comprehensive price database to help create competitive estimates, bids, and budgets. We also appreciate its role-based dashboards, KPI tracking, and dimensional reporting, where construction businesses can tag transactions to view data from any angle. Construction Software Recommendations…

This may be relevant for larger companies that have multiple projects that they manage simultaneously and need to create comprehensive reports and cash flow data for stakeholders. For pricing, we looked at the starting price for the software and whether the company was transparent with its pricing. Those offering transparent pricing fared better than those…

Another way to allow continuing operations is to calculate the terminal value. A terminal value assumes that the cash flow in the final year of projection will continue at the same level into the future. Understanding the capital budgeting process is simplified by flashcards offered by Quizlet. This analysis provides inputs for justifying the investment…

Running operations with obsolete and less efficient assets has many significant competitive disadvantages, including increased costs, limited production and customers dissatisfaction etc. A modernization project is not a classification used to describe capital projects. However, expansion projects and new products and services projects are classifications that are used. A manufacturing company is contemplating buying a…

Accurate payroll journal entries are fundamental to maintaining a company’s financial health and ensuring compliance with tax and employment regulations. While manual entries are sometimes necessary for adjustments and special transactions, they are prone to errors and can be time-consuming. Automating these entries with HighRadius’Record-to-Report solutions, particularly its No-Code LiveCube platform, can significantly streamline the…

In a nutshell, accrued payroll is a liability for any business entity and is recorded in the balance sheet liabilities. Adjusted payroll entries bridge the gap between the last payment for a particular pay period and the date the accountant prepares the company’s financial statements. An accrued payroll journal entry represents each written account of…

The best construction accounting software makes it easier to track projects fully, estimate building costs and manage teams — whether it’s through built-in tools or direct integrations. Sage Intacct Construction is a great pick for contractors of all sizes needing cloud-based financial management. It offers basic accounting capabilities as well as more advanced features like…

With a  wide range of plans available, construction bookkeeping businesses can choose the best fit for their needs. Each comes with a basic set of tools for scheduling, daily logs and payment systems, with the features becoming more comprehensive the more you pay. Foundation Software is a great choice for construction professionals who spend a…