Retained Earnings: Calculation, Formula & Examples Bench Accounting

No, retained earnings are not a current asset for accounting purposes. A current asset is any asset that will provide an economic benefit for or within one year. QB makes that entry automatically as of the first day of your next fiscal year. For example, if your fiscal year-end is Dec. 31 and you run … Continue reading Retained Earnings: Calculation, Formula & Examples Bench Accounting

Connect your Amazon Business account to QuickBooks Online

Create invoices, take photos of receipts or see your company’s activities from the QuickBooks mobile app anytime, anywhere. Income, expenses, outstanding invoices, and other how to claim cca on a business vehicle key business financials are on view as soon as you sign in. Sync data from popular apps like QuickBooks Time, Shopify, PayPal, and … Continue reading Connect your Amazon Business account to QuickBooks Online

What is the difference between prime costs and conversion costs?

Prime costs and conversion costs are two methods that businesses use to measure the efficiency of their production operations. Prime costs also mark an item’s rock-bottom selling price; if you sell a product below its prime cost, you’re losing money on each unit. To generate a positive gross profit margin, products should sell for more … Continue reading What is the difference between prime costs and conversion costs?