Category Archives: Inventory

Why Use Fishbowl Software for Inventory

Fishbowl software is an Inventory Management System that interfaces with QuickBooks. It offers a full range of inventory management tracking and fulfillment activities including Bill of Materials, Manufacturing Work Orders, Finished Goods, Vendor Interface, and Sales Order Processing. While the ...
Read More »

What are Manufacturing Costs?

Manufacturing costs include all of the costs associated with the direct production (manufacturing) of goods while inside of the factory. Manufacturing costs are product costs, and include both direct and indirect costs. Any costs that occur before or after the ...
Read More »

Variable vs. Fixed Costs

In cost accounting, there are two basic ways costs behave: the product costs either increase as product output increases, or they remain static regardless of how much output is created. Many will wonder when this will get interesting, and to ...
Read More »

How to Run a Cash Register

Most people would agree that small business cash management seems simple; yet somehow it is also one of the most frequently neglected or mishandled items. You’re probably thinking, “Who cares; petty cash is immaterial, right?” Well, for a small business ...
Read More »

Installment Sales: Why Do We Use Them?

Why do we use installment sales? Installment sales are only used for financial reporting when there is no reasonable basis for estimating the degree of collection ability. Revenue recognition occurs when cash is actually collected, rather than at the point ...
Read More »

Financial Statement Cycles

The audit process consists of five financial statement cycles to ensure that all of the financial statement components are reviewed and tested. By keeping closely related account transactions together, and separating those closely related accounts into cycles, auditors will be ...
Read More »

Fraud Prevention – Accounts Payable

Systems and processes are necessary functions in order for any business to operate efficiently and effectively. Accounts payable is one of the processes that generates heavy paperwork, heavy labor hours, and a high risk of fraud and error. For these ...
Read More »