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Nonprofit Statement of Financial Position or Balance Sheet

For instance, a significant increase in fixed assets might suggest a major investment in infrastructure. If this increase isn’t accompanied by a commensurate rise in funding or revenue, it could indicate a future liquidity problem. The letter from the independent auditor highlights their opinion that Save the Children is following all required financial laws. Online […]

Invoice Generator How to Create an Invoice: 5 Easy Ways in 2021

For example, a local coffee shop wants to buy five cases of espresso from their favourite distributor. The coffee shop owner might sign a purchase order when they buy the product. The distributor will issue an invoice meaning that the customer has received the products and now is required to pay for them. Now, […]

Bi-Weekly’ vs ”Semi-Monthly’: What’s the Difference?

Whereas a business operating with more salaried employees will likely pay employees semi-monthly because there is no need to track weekly hours. A bi-weekly pay schedule also means consistency in the days of the week you are paid, which can make certain financial situations a little bit easier. From an efficiency perspective, the semimonthly payroll […]

What Is Bookkeeping? Definition, Tasks, Terms to Know

Bookkeeping is a rather simple and straight forward process which can be easily learnt while you’re on-the-job. Check out our helpful guide for deciding when is the right time for your business to invest in hiring a bookkeeper. Accountants on the other hand, go through rigorous training and standardized exams to become certified public accountants. […]

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