Here, we look at the benefits of supply chain finance, both for buyers and suppliers. Factors such as the provider’s reputation and the cost of financing, ease of integration with current systems, and level of support should be weighed before choosing a provider for supply chain finance. You must select a provider that listens to…
A purchase order (PO) plays a crucial role in procurement processes as it serves as a formal written request from the buyer to the supplier. After the supplier accepts the PO, it becomes a legally binding contract. Essentially, it serves as an official offer between the buyer and the seller, specifying the details of the…
The model supposes that the costs such as transportation expenses and warehouse rent either do not change or do not affect the ordering and handling costs, which is not entirely realistic. The Economic Order Quantity (EOQ) aims to determine the optimal quantity of products to be ordered. It has become a cash flow tool that…
Besides being a figure on the balance sheet, total manufacturing cost gives valuable insights into the efficiency of your production processes. This information, then, helps companies identify areas where a few dollars can be saved, or operations can be streamlined. It also ensures that products are priced competitively while still allowing for a healthy profit…
Let’s take an example to illustrate how the sale and purchase of common shares impact the company’s weighted average number of shares outstanding. The stock dividend and stock split both affect the computation of weighted average shares outstanding for a period. It means that any additional shares issued as a result of stock dividend or…
A secure password manager program allows you and your staff to create, manage, and store strong passwords conveniently and safely. Your data will remain safe, and you will save time and eliminate frustration. Your excellence as an accounting company is no defense against a cyberattack. You can be the top firm in your field and…
And when your startup is no longer a startup, Pilot is great for scaling your business and continuing to offer customized bookkeeping services. You should be able to schedule regular video or phone calls with your bookkeeper so that you can discuss your finances, ask questions, and receive strategic advice. Some bookkeepers offer regular check-ins,…
QuickBooks is a useful tool for tracking financial transactions, but it still requires time, effort, and expertise to set up and use effectively. A bookkeeper with QuickBooks experience can help you ensure that your financial records are accurate and complete, and can help you make the most of the software’s features. Accountants do not automatically…
Follow these HR compliance best practices to ensure adherence to internal policies and external labor laws. The FLSA also requires you to pay minimum wage and overtime wages for certain employees who work more than 40 hours in a week. Employees are classified as either exempt or nonexempt under this law based on their job…
This is because the cash flow of an annuity due occurs at the start of each period while the cash flow of an ordinary annuity occurs at the end of each period. If we could get a 5% interest rate, then £1,000 received one year from now is not worth £1,000 today. A financial professional…