Category Archives: Bookkeeping

Benefits of Outsourcing Bookkeeping

Firstly, it allows you to tap into the expertise of professionals, ensuring accuracy and compliance with financial regulations. By entrusting your bookkeeping to specialists, you free up valuable time to focus on core business activities, fostering growth and innovation. When you work with Ignite Spot Accounting, you’ll get bookkeepers certified in a variety of popular […]

What Is a Suspense Account? How It Works, Types, and Examples

Consequently at the end of each accounting period the business carries out a suspense account reconciliation. Any balance is investigated so that correcting adjustments can be made before the final financial statements are issued. Accordingly irrespective of the issue resulting in the suspense account posting, at the end of the accounting period the account balance […]

Working Capital Ratio: What Is Considered a Good Ratio?

At the end of the day, having completed a sale does not matter if the company is unable to collect payment on the sale. Certain balance sheet accounts are more important when considering working capital management. Though working capital often entails comparing all current assets to current liabilities, there are a few accounts more critical […]

Working Capital Turnover Ratio Definition & Calculation

Effective inventory management is vital for improving your working capital turnover. This involves not only reducing excess stock to free up capital but also ensuring that inventory levels are aligned with current demand trends. This working capital turnover ratio of 5 indicates that for every dollar of working capital, the company generated $5 in sales, […]