Robinson Business Services

The main benefit of a revenue budget is that it requires looking into the future. The revenue budget should contain the assumptions made about the future and the details about the number of units to be sold, the expected selling prices, and so on. The budgeted amount of revenue is then compared to the budgeted amount [...]

You balance a checkbook by comparing the amounts on your bank statement or in your bank account to the amounts you have in your checkbook or check register. Accountants refer to this as reconciling the bank statement or doing a bank reconciliation or bank rec (pronounced as “wreck”). You can find a free explanation and a [...]

Residual value, salvage value and scrap value are three terms that refer to the expected value at the end of the useful life of the property, plant and equipment used in a business. This estimated amount is used in the calculation of an asset’s depreciation expense, and often the amount is assumed to be zero. The [...]

An accrual occurs before a payment or receipt. A deferral occurs after a payment or receipt. There are accruals for expenses and for revenues. There are deferrals for expenses and for revenues. An accrual of an expense refers to the reporting of an expense and the related liability in the period in which they occur, and [...]

One of the reasons having a good accounting software is so important for a small business (whether or not you have an accountant) is helping you to get ready for tax season.  Accounting software like WorkingPoint allows you to stay on top of recording all of the finances of your business so you and/or your [...]

On September 1, 2010 a man wielding a gun and possibly an explosive device took a bunch of hostages at the Discovery Channel’s headquarters. This deranged man is presumed to have taken these extreme measures in order to get his message across to the organization and to mass media. Violence, threats and other acts of [...]

At WorkingPoint, we are lucky enough to have a highly trained operations officer who ensures we follow a strict safety and security protocol. Like the best hurricane tracking software, he has the ability to see potential dangers brewing and to anticipate and develop strategies to keep our business “hurricane” free. Not everyone is lucky to [...]

One of the reasons having a good accounting software is so important for a small business (whether or not you have an accountant) is helping you to get ready for tax season. A good accounting software like WorkingPoint can help to make accurate accountancy, and therefore tax season, as painless as possible. Whether or not [...]