ADP RUN articles

Fixed manufacturing overhead costs are the same in total regardless of the quantity produced. Zero-based budgeting begins with zero dollars and then adds to the budget only revenues and expenses that can be supported or justified. Figure 10.2 illustrates the difference between traditional budget preparation and zero-based budgeting in a bottom-up budgeting scenario. The advantage to zero-based budgeting is that unnecessary expenses are eliminated because managers cannot justify them. […]

You may call your bank if you cannot log in online or if you have questions about how to enable paper statements. Bank statements can be used to track your spending, see where you can cut back on expenses, and catch errors or unauthorized transactions. This information can help avoid overdraft fees by keeping track of account balance and making sure there are sufficient funds to cover all transactions. If any discrepancies are found, they must be reported to the bank in a timely manner. Accoun […]

It is applied as a percentage on top of the base exchange rate, which is calculated as the average exchange rate for the previous three months. Due to this added charge, shippers are now looking to enter into “all-inclusive” contracts at one price, that accounts for all applicable charges, to limit the effect of the CAF. You can record a journal entry to correct the check amount when there is a bank error and the bank will not correct it. When Joe receives the bank statement for th […]

If you find it difficult to find time to update your books daily, at least aim to update them weekly. One of your most powerful trucking bookkeeping resources comes in the form of a tiny slip of paper—receipts! Without them, you run the risk of losing hundreds, even thousands, in taxes. That’s why we’ve put together a few truckers’ bookkeeping tips to simplify your bookkeeping process. As an owner-operator, however, bookkeeping is an important part of running your trucking bus […]

The latter refers to long-term investments for which the value will not be realised within the accounting year. Here’s what you need to know about the P&L statement and balance sheet and how they differ. Part of ensuring you have a successful, accurate accounting system is knowing which documents you need to keep tabs on.
The Profit and Loss Account of the enterprise discloses the net profit or loss of the firm. Because it is a nominal account, the transactions are recorded as per t […]

It is also known as net assets since it is equivalent to the total assets of a company minus its liabilities or the debt it owes to non-shareholders. Balance sheet lenders are known for being able to forgive flaws and black hairs. Most balance sheet lenders are mid-sized or smaller commercial banks.

Some liabilities are considered off the balance sheet, meaning they do not appear on the balance sheet. Balance sheets should also be compared with those of other businesses in the same industry s […]