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Bookkeeping Explained

What is Bookkeeping? BookKeeping is the systematic preparation of the books of account of a business. Bookkeeping determines if the business made profit or loss.  The process is consequential and it begins with the collecting, recording, organizing, presenting, and analysis of...
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How to prepare a Balance Sheet?

The balance sheet is a statement that highlights the financial position of a company at a given date or time. Mostly balance sheet is prepared on a yearly basis, but the preparation of the balance sheet solely depends on the policies set for the company. Steps to prepare the...
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accounting cycle

Bookkeeping for Beginners – Master the Bookkeeping Terms

Accounting can be a pain in the ass. Sometimes you don’t know where to record given transaction. Should I debit or credit? Your accounting teacher expects that you understand what debiting and crediting is and at that time you float the whole of the lesson. The Bookkeeping Terms...
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Ways of identify the best bookkeeping services

Failing to choose the best bookkeeping systems and services for your business is likely to be the first step towards fail for the enterprise. Choosing the correct services gives a business the early warnings of inefficiencies such as the running out of cash. Also, the systems are...
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What to watchout before Hiring for Bookkeeping Services

Bookkeeping is the process of keeping accurate accounting and financial transaction documents on a day to day basis for business, individual person or can be done both electronically and manually. These records are supposed to be stored in way in which they can be...
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bookkeeping services

Top reasons why bookkeeping services are critical in America

Bookkeeping Services – A Headstart It is impartial for any business whether big or small to acquire bookkeeping services. However, most mediums sized and small enterprises in America often ignore these services to try and minimize the size of expenses in the company. Recent...
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cash based bookkeeping

How to Audit Cash Based Bookkeeping?

To guarantee a company’s accounting staff is following standard accounting rules, it is important that internal audit be used as a primary tool to checkmate all bookkeeping services that are taking place in the organization. Cash based bookkeeping is employed to keep track...
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Accrual accounting

What are the benefits of Accrual Accounting?

Accrual Accounting Accrual-basis accounting involves the documentation of revenue(money earned) and expenses(money spent) in the time the transaction occurs whether or not money is received . For example, if one pays workers wages at the beginning of the next month(September) for...
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accounting cycle

What are the nine Steps in the Accounting Cycle?

The Accounting Cycle is a nine step standardized practice used by organizations & CPA firms to record and calculate financial activities. It is used for its efficiency and compliance with federal regulations and tax codes. The Nine steps in the Accounting Cycle are as...
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outsourced bookkeeping services

5 things to know about when Outsourcing Bookkeeping Services

Bookkeeping comes very beneficial and effective in keeping track of one’s own records in today’s world of complex finances accompanied by long bills, checks and deals in numbers. All these can be extremely hard to handle when faced with time constraints and hard to do calculative...
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