What is a pip and how does it work?
A pip is a unit of measure used in Forex trading to denote a change in value between two currencies. A pip stands for "percentage in point" and is the smallest amount by which a currency pair can change in value. For most currency pairs, one pip is equal to 0.0001 of the currency pair's quote. For example, a change in the value of a currency pair from “1.5000” to “1.5001” would signify a one pip change.
How to properly enter bank fees in QuickBooks?
1. From the Home page, select the “Banking” menu.
2. Select “Write Checks”.
3. Enter the check amount as the amount of the bank fee.
4. Click on the “Expense” tab.
5. Select the expense account that best matches the type of bank fee.
6. Enter a description of the bank fee and click “Save & Close”.
Is avoidable cost a relevant cost?
No, avoidable costs are not relevant costs. Relevant costs are future costs that may be affected by a decision, while avoidable costs are costs that can be eliminated or reduced.