Six Reasons Outsourcing Could Benefit Your Business

A highly trained customer support staff, backed by management with years of experience, will give your customers the type of service that keeps them coming back. Going from no support staff to an industry-leading support staff is nearly impossible to do internally....

Permanent Accounts Definition and Explanation

This account is used to record the income earned from the sale of goods or services. These accounts are used to record the cost of acquisition and depreciation of these assets. The balance of these accounts decreases over time due to depreciation. What is a Temporary...

Journal Entry Example for Small Business Owners

The common reasons of such difference include inaccurate record keeping, normal shrinkage, and shoplifting etc. An inventory purchase journal entry records the acquisition of goods that a business intends to sell. This entry typically involves debiting the...

Break-Even Point Formula & Analysis for Your Business

To find your variable costs per unit, start by finding your total cost of goods sold in a month. If you have any other costs tied to the products you sell—like payments to a contractor to complete a job—add them to your cost of goods sold to find your total variable...