How to Void a Check and When to Use One?

Many times, you’ll need a voided check to set up automated loan payments such as a mortgage payment, student loan, or auto loan. You must first contact your bank and see if that particular check has already been cashed. If it hasn’t, they should be able to put a...

Indirect Materials Definition, Explanations and Examples

Allocating the costs of indirect materials appropriately ensures accurate cost accounting. This involves identifying the materials used in different production processes and assigning their costs to the relevant understanding your form 1099 cost centers. Accurate cost...

How to Calculate Retained Earnings Formula and Examples

The “Retained Earnings” line item is recognized within the shareholders equity section of the balance sheet. Examples of these items include sales revenue, cost of goods sold, depreciation, and other operating expenses. Non-cash items such as write-downs or...
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