Whether you're trying to get back to the pre-tax price of an item or you're calculating the amount of sales tax backwards from a receipt in your hand, the math is the same. You have to know the total amount paid, including the sales price or list price, and either the amount of ...
both values are equally important. Without a figure for gross income, it becomes impossible to figure out the gross profit margin for a service business. But what changes when we add the word “margin”?
An organized balance sheet can be critical to your business' success. Use our balance sheet template and guide to help your business thrive.
I hope the strategies above will help you figure outhow to price your productsand bring your prices to a level that treats you fairly and rewards your creativity and efforts. Pricing your products fairly tells consumers that you have a quality product to offer, so start spreading the news. I...
Ending inventory is the total value of products you have for sale at the end of an accounting period. Here’s how to calculate it and when to use it.
If you receive tax form 1099-NEC for services you provide to a client as an independent contractor and the annual payments you receive total $400 or more, you'll need to file your taxes a little differently than a taxpayer who only receives regular emplo
If the rush shipping fee is $200 per order and you have to place two rush orders due to the stockout, that’s an additional $400 in costs. Lost sales This isn’t a direct cost, but it’s a significant consequence of stockouts. If you estimate that you lost 10 sales of the ...
like an auto loan, will have higher interest charges associated with the early payments and in the later payments more of the payment is principal to pay down the loan. A car loan will amortize at a set pace with each monthly payment. The math can be handled with a calculator and piece...
To calculate 15% using ratios and proportions, set up a simple proportion and solve, as in this example. A trip to Happy's Diner resulted in a bill of $45. Service was good, but not exceptional. How do you figure out the tip? Simple, set up a proportion for 15%, or whatever ...
Potential business owners still need to develop a quality product idea, figure out sourcing or manufacturing strategy and then implement a viable sales model. Reasons You Should Start an Online Business You may be wondering, why start an online business in the first place? Why not go with a...