LISTEN TO AUDIO Understanding Account Audits: Key to Financial Transparency Simplifying Account Audits for Financial Clarity Account audits are like magnifying glasses for your finances – they zoom in on the numbers to ensure everything adds up correctly. Imagine trying to complete a complex puzzle; account audits help you verify each financial piece is in…
Outsourced Bookkeeping Services A small business owner should always look for ways to save money, and outsourcing certain services is one way. For example, outsourced bookkeeping services, payroll, and office administration services are becoming increasingly popular as businesses find that they can get the same quality of service at a fraction of the cost. These…
Bank reconciliations may not be the most exciting topic, but they are essential for accounting. In essence, bank reconciliation is the process of comparing your company’s bookkeeping records with the actual transactions that have taken place in your bank account. This helps to ensure that there are no discrepancies between the two systems and that…
What are debits and credits? In accounting, debits and credits are ways of recording financial transactions. Transactions are recorded as either a debit or a credit, depending on what is happening in the transaction. What does debit mean? Debits are typically used to record assets, while credits are typically used to record liabilities. For example,…
Bookkeepers are in charge of keeping track of all the financial transactions that happen within a company, their job description is to organize and transfer information from one location to another, and they also keep the business and bank reconciliation records for taxes. If you are managing a company, then it is vital that you…
What is small business bookkeeping? Small business bookkeeping is the financial activities involved in processing, measuring, and communicating a business’s finances. These activities include the following: Bookkeeping can help streamline business practices and ensure accuracy in decision-making by keeping track of expenses and understanding the financial standing of a business. There are various methods and…
Everything You Needed to Know About Bookkeeper Services Bookkeeping is the process of recording and summarizing the transactions and events in a business. Generally, this is used for all transactions and events in a business to keep track of its assets, liabilities, income, expenses, and owner’s equity. Bookkeeping is an important part of any business,…
