Author: Kayla Bloom

  Depreciation is the process of determining how much a tangible asset has decreased in value over time. Essentially, a tangible asset is a piece of physical property with economic value. There are multiple methods of calculating depreciation, including straight-line and accelerated methods. Knowing which method works best for your business is crucial.   Here… Continue reading How to Calculate and Understand Straight Line Depreciation

  Every business requires accounting to keep track of its earnings and expenditures. Furthermore, it provides the basis for financial analysis that stakeholders like management and investors can use to make business decisions. Accounting systems are primarily divided into two categories: Single-entry and Double-entry systems. Saved Templates In the accounting world, double-entry systems are most… Continue reading What Is Double Entry Accounting and Bookkeeping?

  The amount of money you receive and send out is one of the most important aspects of running a business. As a rule, more should flow in than out, but it doesn’t always happen that way. You may have to pay your staff and suppliers until you receive your cash. Whatever your situation, understanding… Continue reading What is a Cash Flow Statement? How to Read It and Examples

When it comes to bookkeeping, have you ever wondered if you’re “doing it right?” Keeping track of inventory, refunds, and other moving parts can be challenging for eCommerce sellers. Whether you’re running a brick-and-mortar or any eCommerce business, you should keep and refer to many financial statements, and one of which is your ― profit… Continue reading What Is a Profit and Loss Statement?