Practical Accounting, Finance & Business Analysis
This site contains affiliate links to products and services. We may receive a commission for purchases made through these links. 5 Tips to Start your Business Are you concern with the economy? Your job status does not improve not matter how much you do. You feel that your job does not compensate you enough for…
Use a CD to start your savings What is a certificate of deposit? A certificate of deposit, or CD, is a contract between you and your financial institution where you deposit a certain amount for a fixed period of time. For example, deposit $1,000 using a CD for x interest and for x months. The…
Savings: First Step to Success Savings is the action of setting aside. In the financial world, you set aside certain amount of your funds. The idea to save means that you have for the future, for whatever plan you may have. How do you open a savings account? In the old days, people visited their…
Using Microsoft Excel / Google Sheets Do you have credit sales? Do you feel cumbersome keeping track of due dates and aging accounts receivable? Would you like to have your clients on a worksheet easy to maintain? The answers to these and other questions can be answered with an Account Receivable Subsidiary with an Aging….
Using Google Sheets / Microsoft Excel This post is about creating a Payroll worksheet. You can create a functional payroll worksheet using Google Sheets or Microsoft Excel. You can keep track of one or more employees, with different rates and deductions. In the image, I show you an example with some data for purposes of…
The Different Counts Functions If you are familiar to Google Sheets and Microsoft Excel, you might have worked with functions. Most of us, have used several functions and typically we keep the ones that work for us. In this blog, I will show you six types of counts functions that you can use to automate…
Using Google Sheets Last in, First out methodology The LIFO methodology assumes that items bought last will be sold first. LIFO holds true when inventory are kept in stacks; thus, the first one sold should be the last one acquired. Using this method, causes that last prices become your cost of goods sold, and older…
Using Google Sheets Average Cost Calculation The average-cost method allocates the cost of goods available for sale on thebasis of the weighted-average unit cost incurred for a given period. Several businesses use this methodology when inventory units are similar in nature. Note, the calculated average does not refer to a per unit cost only; instead,…
Using Google Sheets Most of us work in businesses that already have their accounting software, that calculates for us all the account balances. We do not need to prepare agings, schedules, or inventory lists since the system takes care of us. However, several times your software does not accomodate your ideal solution for calculating an…
Using Google Sheets function SYD( ) To setup a Sum of the Years Depreciation Schedule for your fixed assets, you need to list your assets (column A). Then, include the item’s cost (column B), include each asset’s useful life in years (column C). Last, determine any residual value (optional), if not include $0 (column D)….