Despite their apparent similarities, each has a specific function in financial reporting. Businesses must know these differences to guarantee accurate financial reporting and avoid misclassification errors. Imagine running a company and anticipating that you will collect all your receivables, only to discover later that some are uncollectible. Or think of investing in a costly piece […]
Category Archives: Bookkeeping
It helps to identify and explain the causes of deviation from the expected performance and to take corrective actions if needed. Variance analysis can be done at different levels of detail, such as revenue, cost, profit, or individual line items. Rate variance, also known as wage variance, focuses on the difference between the actual labor […]
Backed by a team of experienced business bookkeepers, your dedicated bookkeeper is always just a message away—ready to provide real-time insights, strategic advice, or quick answers to help you grow with confidence. Customers also report concerning billing practices, like one who was quoted $2,000 for a QuickBooks to Xero migration but got charged $5,000 without […]