Operating Profit Margin: Formula and How To Calculate It
The operating profit margin (OPM) should be a key performance indicator if you aim to sustain and grow your business. From...
Small Business
What Is Bookkeeping?
Some of the common questions about bookkeeping are: What is bookkeeping? How does it work? Who is a bookkeeper? How much...
What Are Billable Hours? Setting Your Billable Rates
Billable hours is a value-based pricing method you use to ensure that every minute spent on a client's project is accounted...
Accounting Software for Accountants: 9 Things to Consider
So, you are a practicing accountant searching for the right accounting software for accountants. Your focus is small to mid-size businesses...
Deciding On Accounting Software for Project Management
When searching for the best accounting software for project management, there are must-haves and optional features that take away the friction...
What are performance metrics? Why should small businesses track them?
Performance metrics give small business owners a benchmark to compare the efficiency of efforts toward achieving their goals in sales, production,...
What is Absorption Costing in Accounting?
Every production process has its related costs that are both direct and indirect. Absorption costing takes all of these into consideration....
What is a non-payment account in accounting?
Your business bank account can be a payment or non-payment account. What defines both are the functions or limitations. Bank accounts...
What is a Trial Balance in Accounting?
What is a trial balance, the types, who uses it, and for what purpose? In a news organization, there are news...
What is Days Sales Outstanding, Formula, and How to Improve It?
While many small businesses offer credit sales, the growing concern is the days it takes to get payment. Days Sales Outstanding...