Your prepayments may comprise of various types – to give two examples, those you require for certain orders made and those that your clients have bought for an example in the form of gift cards.
To follow up those two types in accounting, the approach is a bit different. The prepayment made for a certain order is undoubtedly going to be used up. That’s the first bit of thing that’s different. In your accounting initially you account for the prepayment with: Continue reading
Let’s get one thing cleared right away; opting for a choice in how you handle the vacation payments is only possible if it’s allowed by your local legislation. There might be options defined in a way that you can agree on something else compared to what’s described in the legislation, but for the employee it cannot be with adverse impact compared to the legislation rules.
So, let’s assume in your country it’s allowed to opt for something else – something that’s better for employees. Obviously you can come up with in addition to what we’re about to discuss, but I just want to introduce you to an option. Continue reading
To increase salaries or pay bonuses (if you already aren’t paying the latter, it’s a questions of whether to start in the first place) – that’s the question some employers face almost each year. On one hand you want to motivate your employees and reward them, on the other it’s a question of maintaining a salary level that keeps your employees happy and wanting to work for your company each month.
How to best answer the question should be as follows – is the company viable and able to pay more each month? Matter of fact is that if you’re wondering whether to increase salaries, you’ve most probably already made up your mind that you want to do that, but it’s a question of reasoning – why are you doing this? Continue reading
Paying bonuses to your employees is an admirable deed – it makes people feel motivated and valued. When it comes to rewarding in the work place, bonuses are something that works the best.
In accounting however, how should you account for bonuses? Continue reading
They shouldn’t, let’s get this straight right from the start. There are reasons which are obvious – some clients are bigger, some are more important because of their market (which you want to be part of) etc. However, the question remains – are they getting the same price? Continue reading
Your customers make sales orders to you if they want to buy something from you (unless you have a shop where they can get their goods right away). Sales orders to you are initially work orders – you must fill, ship and invoice them. Continue reading
You get a sales order from your customer – a work order for you. You start filling it right away, are all stressed out by the deadline, the materials needed and so on. Once it’s all done, you are happy you can finally deliver the goods and the shipment is done. Did you send the invoice with the shipment? Continue reading