by Dumitru | Feb 21, 2025 | Bookkeeping
The closing of the books also marks the start of the next accounting period. The cycle is complete, and it’s time to begin the process again, starting with step one. After a transaction is identified, a record of it needs to be created. The journal functions as a...
by Dumitru | Dec 16, 2024 | Bookkeeping
While EBITDA helps assess profitability before accounting for financial and tax decisions, gross profit focuses on production efficiency. Net profit reflects the actual bottom line—it accounts for all expenses, including interest, taxes, depreciation, and...
by Dumitru | Aug 30, 2024 | Bookkeeping
Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in currencies. In this example, the...
by Dumitru | Jul 24, 2024 | Bookkeeping
All together, these expenses can easily increase your payroll costs by 20% to 30% — or more. Find out how other freelancers manage their workload and maintain their clients and learn from them. While their style may not be ideally what you want, it can improve...
by Dumitru | Jun 26, 2024 | Bookkeeping
In addition, it also helps in identifying the areas where the company can lower the cost. This tool can help in real-time production cost assessment, identifying the areas of inefficiencies, reducing wastage, and optimizing production runs. Sometimes, a company needs...
by Dumitru | Apr 8, 2024 | Bookkeeping
Hourly rates can range as widely as $40 per hour to $300 or more per hour, depending on your geographic location and the accountant. Check out the average hourly rate for accounting services in your region. At Bench Accounting, we understand the unique challenges that...
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