How to Void a Check: A Step-By-Step Guide

They make it easier for you to share banking information without fear of someone else withdrawing money from your bank account. Chase, for example, offers checkless checking accounts. This will ensure it reaches the intended place without passing through third-party hands. What is a Voided Check? The offers that appear on this site are from […] More

Trial Balance Example Format How to Prepare Template Definition

A slide error occurs when you place a decimal point incorrectly (e.g. $ 1,500 recorded as $ 15.00). Thus, when a difference is divisible by 9, compare the trial balance amounts with the general ledger account balances to see if you made a transposition or slide error in transferring the amounts. The equality of the […] More

Debit Memo Definition: What is a Debit Memorandum?

The result is a more efficient collections team that contributes to enhanced cash flow and reduced DSO. On top of a monthly account service fee, you might also see a debit memo occur due to a printed or bounced check, for example. As well, it can be fairly common for debit memorandums to get used […] More

What is Product Cost? Formula, Examples & Calculator

However, other labor, such as secretarial or janitorial staff, would instead be period costs. Both product costs and period costs may be either fixed or variable in nature. For a retailer, the product costs would include free estimate template the supplies purchased from a supplier and any other costs involved in bringing their goods to market. […] More

Gross Profit Margin: Formula and What It Tells You

Companies might need to offer discounts or promotions to stimulate sales, often at the expense of their gross margin. As such, this can affect your profit margin, making it even more essential for businesses to optimize operations. Implementing pricing strategies is also effective in improving a company’s gross margin. This involves adjusting the price of […] More

Capital Expenditure Capex Formula + Calculator

It is important to have separate budgets for capital expenditures and operational expenses. However, the decision to start a project involving much capital expenditure must be carefully analyzed as it will have a significant impact on the financial position and cash flow of a company. By reinvesting funds back into the business, companies are […] More

FOB Shipping Point vs Destination

Basically, the buyer takes complete control over the delivery once a freight carrier picks the goods. Under this arrangement, the buyer assumes the risk at the point of origin. Despite the seller covering shipping costs, the ultimate responsibility and risk for the products rests with the buyer. FOB shipping point puts the buyer in the […] More

Accidentally Wrote Void On A Check: Heres What To Do!

If in person is not possible, a fax delivery is preferred to email. After all, an email can be forwarded, exposing your check information to unintended parties. Voided checks are also frequently requested when setting up recurring financial transactions because they contain all of your banking information. The information in this document was developed with […] More

Flow of Costs Process Costing Accounting for Managers

The diagram above shows the cost flows in a process cost system that processes the products in a specified sequential order. That is, the production and processing of products begin in the Mixing Department. Each Department inputs direct materials and further processes the products. Then the Packaging Department transfers the products to Finished Goods Inventory. […] More

Net income vs gross income: what’s the difference? and how to calculate

In conclusion, gross income may be viewed as an indicator of operational efficiency at the core level while net income reveals overall economic viability. Net income and gross income are two representations of company earnings and spending. Together, they form a “before and after” snapshot of company earnings and show the effect expenses have […] More