Category: Bookkeeping

Machine operators and assembly line workers are the most common types of direct labor workers. Spoilage, or raw material that can’t be used in the final product, is to be expected. Unless there’s an abnormal amount of spoilage, the cost of spoiled raw material gets included in your direct material calculation. How to Calculate Manufacturing…

Let us know in the comments if you require further assistance managing your accounts or any other concerns in QBO. To ensure everything is recorded correctly, it’s best to consult a bookkeeper or collaborate with other accountants for further assistance. You may want to check our Find an Accountant tool to find another accountant near…

The “declining-balance” refers to the asset’s book value or carrying value (the asset’s cost minus its accumulated depreciation). Recall that the asset’s book value declines each time that depreciation is credited to the related contra asset account Accumulated Depreciation. The double-declining-balance (DDB) method, which is also referred to as the 200%-declining-balance method, is one of…