Less Accounting

SEPTEMBER 25, 2023

Accounting for small businesses is the documenting, tracking, and evaluation of the financial health of a business. Proper accounting can prepare a business for tax season , growth opportunities, and help navigate external and internal factors that could affect a business’s profitability.

Small Business Accounting 52

Small Business Accounting Accruals Bookkeeping Accounting 52

Accounting Tools

OCTOBER 11, 2023

Related Courses The Interpretation of Financial Statements The Statement of Cash Flows What is the Direct Method? For example, the statement may include line items for changes in the ending balance of accounts receivable , inventory , and accounts payable. What is the Indirect Method?

General Ledger 40

General Ledger Cash Collection Accruals Financial Statements 40

Accounting Tools

AUGUST 31, 2023

An alternative way to calculate the cash flow of an entity is to add back all non-cash expenses (such as depreciation and amortization ) to its net after-tax profit, though this approach only approximates actual cash flows. A key source of cash flow uncertainty is the timing of cash receipts from accounts receivable.

Accruals 75

Accruals Financial Statements Accounts Payable Accounts Payable 75

Nanonets

SEPTEMBER 21, 2023

In simple terms, the accounting cycle refers to the series of steps that businesses follow to record and process financial transactions, from identifying the transactions to preparing financial statements. The accounting cycle is a series of steps that businesses follow to record and process financial transactions.

General Ledger 40

General Ledger Financial Statements Accounting Accounting 40

Nanonets

APRIL 4, 2023

Excel can also be used to create a full accounting system, complete with financial statements, for a complex business with lots of expenses, income streams, assets, and debts. Are you looking to automate accounting processes? In that case, you should consider using accrual method accounting.

Small Business Accounting 52

Small Business Accounting Accruals Accounting Accounting 52

Nanonets

MAY 6, 2024

The General Ledger is a central accounting record that contains all financial transactions of a business, organized in a systematic and structured manner.    The GL comprises various accounts, each representing a specific financial aspect of the business.  

General Ledger 52

General Ledger Reconciling Data Entry Payroll 52

Jetpack Workflow

MARCH 21, 2023

There are several disadvantages to using spreadsheets for your bookkeeping: Excel requires a lot of manual work to enter accounting data. For businesses using the accrual method of accounting, it means double the work, entering data twice for every transaction. However, it’s not always a smooth process with Excel templates.

Bookkeeping 52

Bookkeeping Bank Reconciliation Reconciling Accounting Software 52

Jetpack Workflow

MARCH 23, 2023

While the year-end closing process is familiar to most due to tax reporting, it’s not the only necessary period-end process a business should have. The month-end closing process is just as essential, especially if you want to avoid the headache and overwhelm of last-minute error corrections spanning months during tax seasons.

Reconciling 52

Reconciling AR AP Payroll 52