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Faye Wang

About Faye Wang

Faye Wang is a Certified Public Accountant with more than 10 years working experience in the software industry, nationally recognized pet hospital, hospitality industry, global non-profit organization, and retail industry. Not only leading the accounting operations, but Faye also has great experiences in financial system implementation and automation, such as NetSuite, Intacct, Expensify, Concur, Nexonia, Bill.com, MineralTree, FloQast, etc. Outside of work, Faye is a big fan video games especially League of Legends which she has been playing since many years.

Profit Margin

The profit margin is a financial ratio used to determine the percentage of sales that a business retains as earnings after expenses have been deducted. For example, a 20% profit margin indicates that a business retains $0.20 from each dollar of sales that it makes. By factoring in business expenses, the profit margin determines how well a company is able to manage expenses relative to sales, which makes it a good indicator of a company’s profitability and overall financial health.

Open Invoice

The full accounting cycle is a step process for recording transactions, preparing financial statements, and making closing entries for the monthly or annual accounting period. At year-end, closing entries include transferring net income or loss to the retained earnings account and resetting income and expense accounts to zero for the next accounting period.

Accounts Payable Outsourcing

Outsource your accounts payable department. Companies that prioritize accounts payable use automated systems and research-proven best practices to deliver satisfactory and timely payments every single time.

TIN Matching

You want to integrate as seamlessly as possible with existing accounting and ERP systems. However there are many key steps along the supplier payment process that still require significant manual effort beyond sending out payment instructions to the transfer API for bank, ACH, and wire services.

EDI Payments

Many types of EDI payment methods are available to businesses. If you are considering EDI for the first time or are expanding your existing EDI platform, there is at least one method to fit your budget, technology structure, and business transaction needs. Here are two of the top EDI payment methods and their descriptions.

Accrual vs Deferral

So, what’s the difference between the accrual method and the deferral method in accounting? Let’s explore both methods, walk through some examples, and examine the key differences.