Category: Bookkeeping

The reconciliation process balances 2 sets of figures with the aim of both being equal. Reconciliation then lets those managing the process ensure that the figures are correct and in agreement. It helps eliminate fraud and any accounting errors, helping a business be more efficient. The reconciliation process involves ...

They let us buy things that we don’t have the immediate funds to purchase. You pay monthly fees, plus interest, on anything that you borrow. You debit the value of that asset from your account. Debits and credits seem like they should be 2 of the simplest terms in ...

Of the two, Yardi may be the better option for users in search of robust customization options. On TrustRadius, Yardi has a 7.7-star rating based on more than 70 reviews. The majority of users praised its automated workflow capabilities, robust and customizable performance analytics, and accounting tools. However, some ...

If you have limited tech experience, choosing a retail platform that doesn’t require coding makes it easier for you to handle the store setup yourself. Having a variety of options for plugins, add-ons, or integrations helps you customize your online store with minimal or no coding experience. About IntuitIntuit ...

If management wants to have its financials audited, it must accept the dual aspect concept and maintain its accounting records using double-entry accounting. This is the only format that auditors will accept if they are to issue opinions on financial statements. As we’ve explored the concept of dual effect ...

Accounting software helps business owners understand how money flows in and out of their businesses. This can help you save time and make financial decisions quickly. Get paid in as fast as 1-2 business days1, enhance your brand, and look more professional when you enable payments. Customers can click ...

Set clear guidelines for stock levels and reorder points to avoid overstocking or running out of items. This helps minimize waste https://www.bookstime.com/ and theft, ensuring you always have what you need. To create a P&L for your restaurant, you subtract the total cost of goods sold from your Master ...

Data entry involves entering your business’s transactions into your bookkeeping system. As mentioned above, a lot of the data entry now happens automatically, either through OCR or bank feeds. Ultimately, your circumstance determines whether a bookkeeping certification would be worth it for you. What are some of the most ...

Whether you’re a sales manager or a sales rep, understanding the commission calculation process can help you achieve your sales goals and maximize your earnings. Monitor its effectiveness against your goals, and don’t hesitate to adjust the course based on performance and team feedback. A flexible plan that adapts ...