Account reconciliation is the process of comparing financial records or account balances against records obtained from internal or external sources to check if the figures are correct and consistent in
Accounting and bookkeeping processes allow business owners to keep track of every transaction they make, monitor the money that comes in and out during business operations, and evaluate their company’s
For many entrepreneurs, record keeping and accounting are the backbones of a smooth business operation. These administrative tasks require recording source documents for business operations and financial transactions, which is
The middle of the year is an ideal period to conduct a check-up on a business’s finances. Activities that transpired in the past months can provide significant data about the
Accrual accounting and cash-basis accounting are the two most commonly used accounting methods by businesses. These accounting methods comprise certain rules and procedures that companies follow when reporting their finances.
Bookkeeping is the systematic recording and organizing of financial transactions and information pertaining to a business on a day-to-day basis. Accuracy is a vital part of the process as it