ContentHow Are Reorder Points Used?What is Reorder Point and Reorder Point Formula?How to Calculate Reorder PointMethod 6: Normal distribution with uncertainty about the demand and the lead time (dependent)What is the difference between EOQ and reorder point?Importance of setting reorder pointsMethod 5: Normal distribution with uncertainty about the demand and the lead time (independent) Some inventory...
Bookkeeping
We can help calculate startup costs and provide a projected income statement for emerging businesses. When claimed on qualified wages, including many insurance costs, paid to employees, the ERTC is a refundable credit available through September 30, 2021. The credit is available for 70% of up to $10,000 per employee per quarter. LV bookkeeping manages 10+ of our companies with total annual revenue of over...
ContentPractical Employee Cost TipsWhat is a full-time equivalent employee?Importance of Calculating FTEsExamples of how to calculate FTE for individual employeesCalculating employee costCalculate annual hours workedHow to Calculate FTEs One part-time employee who works ten hours per week and one part-time employee who works 25 hours per week. A full-time equivalent is also useful when evaluating...
ContentCash vs. accrual at a glanceJoin over 140,000 fellow entrepreneurs who receive expert advice for their small business financesDefinition of Accrual AccountingThe effect on taxesOverview: What is the difference between cash and accrual accounting?Pros of Accrual AccountingCash-Basis Accounting for Income Taxes The technical storage or access that is used exclusively for anonymous statistical...
ContentExample of the Depreciation EntryAccumulated Depreciation and Book ValueThe accounting entry for depreciationHow to Book a Fixed Asset Depreciation Journal EntrySale of assets journal entry in accounting Accumulated depreciation specifies the total amount of an asset's wear to date in the asset's useful life. Furthermore, when it comes to the sale of a different fixed asset like land, the sale...