How to Calculate Billable Hours the Right Way Step-by-Step
Honesty and transparency around billable hours can also help build client trust. An example is when a highly paid worker performs a low-level task, which influences labor efficiency variance. Time Doctor’s payroll management feature ensures that you don’t spend valuable time double-checking calculations when handling payroll. Why should you track billable hours? To get even […]
Direct Labor Variances Formula, Types, Calculation, Examples
When working with employees on an hourly rate, the hours worked may vary from day to day. So this process will be repeated daily and will have different how to open a business bank account online values. By tracking the number of hours worked, employers can ensure that they pay employees for the exact amount […]
Cost of Debt How to Calculate the Cost of Debt for a Company
For lenders, these ratings serve as a risk assessment tool, allowing them to price loans based on the perceived creditworthiness of the borrower. This helps lenders manage their risk exposure and make informed lending decisions. Active monitoring of the cost of debt helps to assess the trend of the financial leverage. If there is a […]
The 6 Stages of a Construction Project & Why They Matter
Upon project completion, the company transfers the CIP balance to the “Buildings” fixed asset account, and depreciation begins. A construction work-in-progress asset is any asset that is not currently usable, such as assets that are undergoing testing or that a company is building. Depending on the project’s size, construction work-in-progress accounts can be some of […]
What Is a 501c3 Organization? Types, Rules, and Pros & Cons
Both types of 501c3 organizations are crucial to the nonprofit ecosystem, but each comes with its own responsibilities and benefits. Understanding where your organization 5 Main Benefits of Accounting Services for Nonprofit Organizations fits can help ensure proper governance and IRS compliance. Ever wonder what a 501(c)(3) or 501c3 nonprofit actually is, besides sounding like […]