Provision of an estimate of a job, work or a service is often an essential part in dealing with a customer or a client. By giving an estimate of the work that needs to be done, the company allows the customer to get an idea of an approximate cost of the project or service. This … Read more
For the businesses, the sales figures hold great significance as they directly affect the profits and financial position. In order to conduct the financial analysis and devise appropriate strategies, sales are a major component. Therefore, companies put great focus on keeping a record of sales of their different products and services along with the details … Read more
Prices of the products are an important component of the overall business strategy. It not only affects the business revenues but also reflect the product value and affect the purchase decisions of the customers. Companies have different products or services with varying prices. In addition, sometimes, the prices of the products offered by the companies … Read more
In the real world, not only meeting the project end deadline is important rather completing all the activities at the appropriate time is critical for the optimal utilisation of allocated resources as well asthe successful completion of the project. Therefore, it is very important forall the people involved in the project to have a knowledge … Read more
A company is involved in various transactions with a bank which if not recorded and reconciled with the bank records properly would lead to misunderstandings and mismanagement of funds. Hence, a company reconciles its own records with the records of the bank in the bank statements. Discrepancies in the company and bank records are common … Read more
A balance sheet is a financial statement that lists an organization’s assets, liabilities and shareholders’ equity. It presents the financial standing of a company at one point in time. This statement can give an overview of how strong a company is in terms of its assets to pay off its liabilities. This information can be … Read more
There are many business activities that require transportation of the people, inventory and machinery. These include client meetings, delivery services, pick-ups, drop-offs, etc. As this is an expense, a business records the mileage of the vehicle used to calculate the expense cost. The details of the mileage that is associated with a vehicle driven by … Read more
A company incurs various expenses on a continuous basis. Different companies have different policies with regard to the recording of their expenses; however, the recording also depends upon the type of the incurred expense. Some companies record expenses when they are incurred, when payments are issued, on a monthly basis, on a yearly basis, etc. … Read more
There are a number of bills that need to be paid every month. It is not always easy to remember all the due dates and ensure all the payments have been done in a timely manner, especially if one has to pay various bills. If a person has a checklist for this purpose, managing the … Read more
A general ledger is a ledger that has various accounts specific to assets, liabilities equity, revenues, and expenses. These respective accounts contain details of financial transactions of a company. The information presented in a general ledger is used to analyze the financial situation of the company as well as it is used to compare the … Read more