Bookkeeping

Our expertise in QuickBooks Online enables us to manage your finances efficiently while delivering real-time insights and facilitating uninterrupted collaboration regardless of your location. Even though we’re based in Buffalo, NY, and mostly serve businesses throughout Western New York, we also work with clients across the entire United States. We offers a suite of services […]

The tax increase, he added, will only push more people out of Dunkirk, which has been struggling for decades with population loss, along with an erosion of industry and commerce. In hindsight, though, it is no wonder Dunkirk is facing budget woes, given that the city’s tax rate barely increased over a period of decades. […]

Book a demo today to see what running your business is like with Bench. Your business is not the same as any other business, even within industries. You need to work with a bookkeeping service that understands your business, your wants and needs and adjusts procedures that work for you and your style. Inaccurate bookkeeping […]

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Going back to that financial statements and their utmost importance to users beauty company example from earlier, we’ll assume the business has expanded into the high-end skincare market and wants to see how the new line is performing financially. Sync data, gain insights, and analyze performance right in Excel, Google Sheets, or the Cube platform. […]

Now you know all about the contribution margin income statement, how it differs from the traditional income statement, and how to make one. However, knowledge isn’t quite enough if you’ve got reports to create and stakeholders to reassure on top of your day-to-day tasks. You can’t directly calculate the contribution margin from the EBIT figure, […]

The disadvantage of the ARR technique is that it takes no account of the time value of money, the net income over the period of the project is simply averaged. There are two main rules to be used for making decisions when using the ARR method to calculate project returns. The accounting rate of return […]

The average book value refers to the average between the beginning and ending book value of the investment, such as the acquired fixed asset. For a project to have a good ARR, then it must be greater than or equal to the required rate of return. This lets you compare ARR values from different time […]

The purpose of a contra expense the contra account purchases discount has a normal debit balance. account is to record a reduction in an expense without changing the balance in the main account. In double entry bookkeeping terms, a contra expense account refers to an account which is offset against an expense account. If it […]

Cash receipts are recorded in your sales journal as credit and your cash receipts as debit. Before you can record cash receipts, you need to keep all receipts whenever you make cash sales. The sales standard sales receipts that contain key information as mentioned above, provide proof that the sale took place. It means the […]