Basics
Managing Payroll
Payroll Records An employer, regardless of the number of employees, must maintain all records pertaining to payroll taxes…
August 16, 2021 · Boomi NathanAuthor: Boomi Nathan
J. BoomiNathan is a writer at SenseCentral who specializes in making tech easy to understand. He covers mobile apps, software, troubleshooting, and step-by-step tutorials designed for real people—not just experts. His articles blend clear explanations with practical tips so readers can solve problems faster and make smarter digital choices. He enjoys breaking down complicated tools into simple, usable steps.
Basics
Break-Even Point
One of the first steps in evaluating a business is determining your break-even point. This is the number…
August 16, 2021 · Boomi NathanBasics
Calculating Inventory Value
A company can raise or lower its earnings by changing the way it calculates the cost of goods…
August 16, 2021 · Boomi NathanBasics
Managing Inventory
Merchandise Inventory Merchandise inventories are the goods that are on hand for the production process or available for…
August 16, 2021 · Boomi NathanBasics
Managing Expenses
The Expense Authorization system is a commonly used method to keep track of and control expenses. It is…
August 16, 2021 · Boomi NathanBasics
Managing Sales
Sales made by businesses can be broken down into the following main categories: • Cash sales • Sales on account…
August 16, 2021 · Boomi NathanBasics
Petty Cash
The principal method for maintaining internal control of cash is using a checking account. However, a business usually…
August 16, 2021 · Boomi NathanBasics
Managing Cash
Bank Reconciliation Typically, a business will use a bank checking account to help control the flow of cash.…
August 16, 2021 · Boomi NathanBasics
What Is Shareholders’ Equity?
Shareholders’ equity represents the net assets owned by the owners (the shareholders). Net assets are assets minus liabilities.…
August 16, 2021 · Boomi NathanBasics
What Is a Liability?
A liability is an obligation to pay an asset in the future. It is also known as debt.…
August 16, 2021 · Boomi Nathan