Work in Process Inventory: Formula & Definition

Most businesses categorize and monitor work-in-process inventory to ensure better resource utilization and cash flow. Work in process (WIP), sometimes called work in progress, is a type of inventory that lies in the manufacturing pipeline between the raw materials and...

Rental Property Accounting Guide for Landlords in 2025

As you track these properly, you have an accurate view of your company’s financial situation and future development. With fixed asset software provided by QuickBooks, you can track your property purchases, keep on top of depreciation, and stay accounting standards...

Key Stages of the R2R Process in Financial Management

The general ledger holds the breadth of financial information (revenue, assets, liabilities, and more). Your teams rely on this compendium to build accurate reports and stay audit-ready. As the reporting period ends, closing tasks like intercompany eliminations, final...