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Accounting Basics: What Do Debit and Credit Mean? 

Nolan Accounting Center

Generally, a business will assign transactions to one of five main account types: Asset accounts contain the resources that a company relies on to generate revenue. These include inventory, accounts receivable, and cash. Expense accounts contain items that show the company’s cost of doing business.

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Accounting Basics: What Do Debit and Credit Mean? 

Nolan Accounting Center

Generally, a business will assign transactions to one of five main account types: Asset accounts contain the resources that a company relies on to generate revenue. These include inventory, accounts receivable, and cash. Expense accounts contain items that show the company’s cost of doing business.

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Guide to Virtual Bookkeeping and Automation

Nanonets

Bank Reconciliation: They reconcile bank statements with the company's financial records to ensure consistency and identify discrepancies. Invoicing and Accounts Receivable: Traditional bookkeepers generate invoices, track payments, and manage accounts receivable to ensure timely collection of funds owed to the company.

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Simplifying the settlement of invoices: A practical guide

Nanonets

Accurate financial records: Consistent invoice settlement allows for accurate documentation of all transactions. This aids in better financial analysis and reporting, ensuring all payments, credits, and debits are recorded correctly. This means you know the invoice will not be paid and remove it from your accounts receivable.

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147 Cloud Accounting Software Apps: The Big List

Future Firm

Their web-based product is packed full of accounting features. Invoicing, bank reconciliations, bank and credit card feeds, financial reporting, managing accounts payable and accounts receivable, multi-currency, and the ability to connect to 100’s of 3rd party apps to help small businesses automate all parts of the accounting process.