This approach will also maintain the prominence of the duties test by ensuring that the salary level alone does not disqualify from exemption a substantial number of employees who meet the duties test. The regular rate includes all remuneration for wage earners are eligible for overtime after 40 hours per week worked employment except certain Read more about What Full-Time Workers Need to Know About Overtime Rules[…]

Control accounts are essentially summary accounts in the general ledger. They contain totals instead of amounts relating to individual debtors or creditors. They allow one to see the totals, without getting into too much details from individual accounts. This software ensures the general ledger will sort all transactions through the proper accounts to create accurate financial Read more about What is a Ledger in Accounting? Is There a Difference with a Journal and a Ledger?[…]

First, it ignores the time value of money, which is a critical component of capital budgeting. For example, three projects can have the same payback period with varying break-even points due to the varying flows of cash each project generates. Whilst the time value of money can be rectified by applying a weighted average cost Read more about How to calculate the payback period[…]

When a company loses money or pays dividends, it also loses its retained earnings. This is the company’s reserve money that management can reinvest into the business. Retained earnings refer to a company’s net earnings after they pay dividends. Retained Earnings Formula and Calculation Since price-to-earnings (P/E) ratios cannot be used to value unprofitable companies, alternative Read more about Retention Ratio: Definition, Formula, Limitations, and Example[…]

For example, in the case of a mortgage, your home will always serve as the collateral. There are a wide variety of secured loans on the market that you may run into. While this sounds scary, there are advantages to secured loans, as well. In this article, we at the MarketWatch Guides team will go Read more about Secured vs Unsecured Loan: Whats the Difference?[…]

With Malone’s payroll management service, you have the ability to turnover payroll for as little or as many employees as you want rather than outsourcing payroll for your entire workforce. TriNet is tailored toward small to mid-sized businesses, offering a streamlined and user-friendly platform for payroll, benefits and HR management. The right payroll software or Read more about Payroll Software Online Payroll Services[…]

And if you later decide you’re ready to make the move to the cloud, Sage offers cloud solutions as well. Maintaining bookkeeping tasks is essential for the stability and success of small businesses. With so many moving pieces (including assets bookkeeping solutions and liabilities, and income and expenses), small business owners must stay on top Read more about 9 Best Payroll Services For Small Business Of 2024[…]

As your business grows and you hire employees, you can consider whether to rent office space or keep working remotely. Bookkeepers can be certified in various financial platforms, such as QuickBooks, or via training programs. You can also choose to become a certified public bookkeeper to market yourself better as a bookkeeping professional. As part Read more about 12 Online Bookkeeping Jobs To Start Your Bookkeeping Career[…]

If you’re looking for something very cheap and simple and your business is in its very early stages, the affordability of Merritt Bookkeeping makes it a good choice. Bookkeeping is an unavoidable part of having a business because the IRS has certain rules around financial recordkeeping. Aside from staying compliant, having organized books helps you Read more about How To Start A Bookkeeping Business 2024 Guide[…]

Total asset turnover measures the efficiency of a company’s use of all of its assets. There is no exact ratio or range to determine whether or not a company is efficient at generating revenue on such assets. This can only be discovered if a comparison is made between a company’s most recent ratio and previous Read more about Fixed Asset Turnover Overview, Formula, Ratio and Examples[…]