Category Archives: Bookkeeping

Reorder Point Formula: How to Calculate This Critical Inventory Metric

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Now that you know the reorder point formula, we’ll show you how to find your reorder point by going through a sample calculation. Can’t you just wait until you’ve completely run out of inventory to reorder? By understanding and implementing the ROP effectively, you can streamline your operations, enhance customer satisfaction, and maintain a competitive edge in your market. Mastering… Read more »

What is Reclassification in Accounting?

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This type of reclassification can create a taxable event for the investor based on the price of share conversion when merged with the new fund. A reclass is a journal entry that moves an amount from one account to another account, typically with no income statement impact. After the payroll department post the 2-week payroll the Payroll Expense account will… Read more »