Accounting – Fishbowl Blog

Imagine this: You’re baking a massive batch of cookies for a fundraiser. You mix all the ingredients in one large bowl, scoop out dozens of cookies, and bake them to golden…

Every item you have in stock has a value — and you need to be able to report exactly how much it’s worth. But sometimes goods get damaged and need to be written down or even…

Imagine walking into your store and seeing shelves stacked high with products, but you don’t own them. These items are on consignment , meaning they belong to the supplier until…

While your overhead expenses may seem fixed, there are three things you can do to reduce your overhead and boost your bottom line!

For manufacturers, direct costs are easy to identify — they’re the raw materials and components you use to make finished products and the wages you pay production workers. But…

Making a million dollars in sales doesn’t mean you’re pocketing a million dollars. To understand your true profits, you must subtract what it costs you to make or acquire the…

There are a number of costs that an advanced inventory management solution will help you calculate. Here are two of the big ones.

Fluctuating prices and complex calculations make it hard to accurately value inventory. Methods like weighted average cost (WAC) make it easy. The WAC method smooths out price…

No company wants to deal with damaged inventory, but errors and accidents are unavoidable. Workers drop boxes, trucks leak in the rain, and manufacturers make mistakes during…

Job costing (aka job order costing or job cost accounting ) is a method of tracking all the expenses associated with a specific project. It’s like a magnifying glass for your…

There are countless options for businesses when it comes to choosing Inventory Management Software (IMS). One thing they all have in common is eliminating the traditional way of…

The modern business world is always changing. Markets shift, competitors come and go, and unexpected opportunities slip away almost as quickly as they pop up. The key to surviving…