Category: Bookkeeping

At ProLedge, we know that the security of your client’s economic data is crucial for market profitability. For this reason, our highly-trained staff is always ready to analyze the procedures used by your teams and streamline your workflow. At ProLedge, we can optimize your confidential financial books to ensure maximum efficiency and save costs for…

Your financial assistant should be saving you time, keeping your records accurate and providing financial reports when you need them. If you are looking at outsourcing your bookkeeping and accounting services, contact us today. We offer a wide range of accounting services designed to help business owners keep an eye on their money and give…

This differs from the book value for investors because it is only used internally for managerial accounting purposes. If the book value per share is higher than its market value per share then it can indicate an undervalued stock. If the book value per share is lower than its market value per share, it can…

Consider technology giant Microsoft Corp.’s (MSFT) balance sheet for the fiscal year ending June 2023. It reported total assets of around $411.97 billion and total liabilities of about $205.75 billion. That leads to a book valuation of $206.22 billion ($411.97 billion – $205.75 billion). Book value per share relates to shareholders’ equity divided by the…

Nonprofits use a different approach to accounting than for-profit companies called fund accounting. The goal of a nonprofit is not to make money but instead to raise money and use it toward a stated purpose, so it makes sense that there would be different requirements for accounting software. law firm chart of accounts Nonprofits don’t…

Finally, we’re moving on to the fun part—drafting the actual budget! Based on past data and future needs, assign estimated amounts to each income and expense category. Ensure total income equals or exceeds total expenses, adjusting allocations to achieve balance if necessary. This budget starts from zero each year and requires justification for every expense.…

After covering fixed expenses (rent, salaries), the net profit is $25,000. This detailed breakdown helps in understanding the financial performance of individual products or services. To calculate the contribution margin, you take the sales revenue (that’s all the money you get from selling products) and subtract contribution margin income statement format the variable costs (the…

Because a large portion of a company’s production costs are fixed and few of its selling and administrative expenses are variable, the contribution margin will be significantly higher than the gross margin in many cases. Contribution margin is the amount of sales left over to contribute to fixed cost and profit. Contribution margin can be…

These projects may also involve government contracts, which require detailed reporting and compliance with specific tax rules and regulations. Managing equipment depreciation, subcontractor invoicing, and retention schedules is key to avoiding delays in payments and ensuring financial control. Equipment cost allocation in construction accounting involves tracking the expenses related to the purchase, maintenance, and usage…

SAGE has found that 90% of accountants think accounting is going through a cultural shift that favors technology. Our primary service is that of a Fractional CFO with the supporting services of a Bookkeeper and Accountant. Whitesides staff come from a variety of backgrounds, with ex “big 4”, mid-tier and industry experience they have the…