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One of the most common causes of discrepancies in bank reconciliations is delays in deposit and transaction processing. Checks sent or received at the end of the day, or toward the end of the month, may be subject to high low method calculate variable cost per unit and fixed cost delay which will prevent them … Read more

The items therein should be compared to the new bank statement to check if these have since been cleared. The firm’s account may contain a debit entry for a deposit that was not received by the bank prior to the statement date. There will be very few bank-only transactions to be aware of, and they’re … Read more

Across industries, payroll expenses typically range from 20% to 40% of operating costs. It thus becomes a critical financial benchmark used in budgeting and financial reporting of your company. The IRS provides income tax withholding tables you can use to calculate federal income tax withholding. What Are Some Examples of Incorrect Payroll Deductions? The automated … Read more

Last summer, a survey of childcare providers found that 80 percent of respondents reported staffing shortages — and the majority cited low wages as the reason. This Harvard Business Review article states that some economic situations, like recessions, can benefit certain types of businesses, especially if they plan ahead. While some luxuries recede, businesses in … Read more