QuickBooks is designed to be a simple accounting and bookkeeping software suite. In the spirit of simplicity, it limits decisions that are within the Generally Accepted Accounting Principles.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Tim Smith has 20+ years of experience in the financial services industry, both as a writer and as a trader. Vikki Velasquez is a researcher and writer who has managed, coordinated, and directed ...

Inventory management is a crucial function for any product-oriented business. First in, first out (FIFO) and last in, first out (LIFO) are two standard methods of valuing a business’s inventory. Your ...

The inventory costing method your company uses directly affects your "cost of goods sold," which is an expense. The higher the expense you report, the lower your net income, and thus the lower your ...