Because you did not close your balance at the end of 2021, your sales at the end of 2022 would appear to be $120,000 instead of Accounting For Architects $70,000 for 2022. Whether you’re just starting your business or you’re already well on your way, keeping organized financial records is a must. Download our FREE […]

The lower of cost or market rule traditionally applies to companies whose products become obsolete. It helps the company budget for its costs, ensures that it has a steady supply of the necessary chips, and protects it from any potential price increases. Let’s say that a computer manufacturing company predicts that it will need 10,000 […]

If you’re new to payroll as an employer, making sure you calculate everything correctly might seem overwhelming at first. You’ve experienced payroll as an employee, but now you’re the one in control. You’re in charge of keeping up with changing tax laws, correctly classifying workers, and recordkeeping for compliance. The pay period section will showcase […]