Bookkeeping – Weboo

Why Understanding COGS is Vital to the Sucess of Your Business

You begin Q3 with inventory that has a retail value of $55,000 and costs you $30,000 to acquire. But in the middle of summer, demand increases, so you purchase $45,000 in additional inventory with a…

Xero vs QuickBooks: Which Accounting Software Is Best for Your Business?

Those looking for an all-in-one accounting and payroll system may find QuickBooks a suitable choice. However, QuickBooks Payroll’s pricing can be more expensive than Gusto’s (depending on the plan you choose and how many employees…

Understanding Deferred Revenue vs Accrued Expense

When the good or service is delivered or performed, the deferred revenue becomes earned revenue and moves from the balance sheet to the income statement. Deferred revenue is revenue that has been earned but is…

What is a Favorable Variance? Definition Meaning Example

For instance, sometimes, there can be a positive budget variance because an organization has cut its production. Budget variances could also be because of unrealistic production cost estimations. A favorable variance occurs when expenses are…