Accounting Tools

JULY 8, 2023

Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook When you reconcile an account, you are proving that the transactions that sum to the ending account balance for the account are correct. Usually, this means moving an expense into a different account.

Reconciling 75

Reconciling Account Reconciliation General Ledger Accounting 75

Accounting Tools

MARCH 24, 2023

Related Courses How to Audit Liabilities Payables Management Before closing the books at the end of each reporting period , the accounting staff must verify that the detailed total of all accounts payable outstanding matches the payables account balance stated in the general ledger.

Reconciling 75

Reconciling Accounts Payable Accounts Payable General Ledger 75

Accounting Today

SEPTEMBER 28, 2023

No Relief; fakin' it; consider it reconciled; and other highlights of recent tax cases.

Tax 306

Tax Reconciling 306

Xero

JANUARY 24, 2023

One of your most important accounting jobs — bank reconciliation — relies heavily on getting accurate banking data into Xero. Once your direct feed is connected, statement lines appear in Xero automatically, ready for you to reconcile. It’s a good option if you don’t reconcile bank transactions very often.

XERO 278

XERO Bank Reconciliation Reconciling Bookkeeping 278

Accounting Tools

JUNE 12, 2023

Related Courses Bookkeeping Guidebook How to Audit Receivables New Controller Guidebook The reconciliation of accounts receivable is the process of matching the detailed amounts of unpaid customer billings to the accounts receivable total stated in the general ledger. The two information sources for this reconciliation are noted below.

Reconciling 75

Reconciling Accounts Receivable Accounts Receivable Account Receivables 75

Intuit

AUGUST 30, 2024

What’s the difference between bookkeeping and accounting? We’ll define each, explore the differences between bookkeeping and accounting, and discuss what it takes to pursue roles in the fields. Bookkeeping involves categorizing each transaction, specifying the amount involved, and tracking it in the relevant account.

Bookkeeping 246

Bookkeeping Financial Statements Accounting Accounting 246

Xero

OCTOBER 16, 2022

Last year, we reached a significant milestone in our data journey when we built machine learning algorithms that worked to accurately predict your transactions’ contact and account codes. That is, by using the learnings of millions of past reconciled transactions. . Our ongoing commitment to reducing toil.

Bank Reconciliation 246

Bank Reconciliation XERO Reconciling Data Entry 246

Xero

MARCH 25, 2025

Double-check payroll reportings Review key reports like the P32, P11s, Gross to Net, and Account Transactions to ensure your posted pay runs are reconciled. If you’re in the construction industry, don’t forget to review and reconcile your Construction Industry Scheme (CIS) Suffered report for the tax year.

XERO 143

XERO Payroll Tax Corporation Tax 143

Xero

JUNE 6, 2025

Reconcile your payroll accounts After processing all pay runs for the financial year, it’s important to forensically check the accuracy of your reporting. If you come across any discrepancies in your payroll accounts, you can use the remove and redo feature to edit the transaction and allocate it to the correct accounts.

Payroll 130

Payroll XERO Tax General Ledger 130

Accounting Tools

JULY 29, 2023

Related Courses Bookkeeping Guidebook Corporate Cash Management How to Audit Cash Reconciling a bank statement involves comparing the bank's records of checking account activity with your own records of activity for the same account. To reconcile a bank statement, follow the steps noted below.

Reconciling 75

Reconciling Bank Reconciliation Deposits Auditing 75

Intuit

SEPTEMBER 19, 2024

Small businesses and accountants drive economic growth in the UK and need champions to help them power prosperity. That’s why Intuit asked small business owners and accountants about their wishes from policymakers regarding challenges they face, resources they need, and how policymakers can help them succeed.

Accounting 244

Accounting Accounting QuickBooks Tax 244

Accounting Tools

JUNE 16, 2023

Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook The general ledger is the master set of accounts that aggregates all transactions recorded for a business. The reconciliation process at the account level typically comprises the following steps: Beginning balance investigation.

General Ledger 75

General Ledger Reconciling Bookkeeping Financial Statements 75

Xero

JUNE 7, 2022

Take our word for it; a trusted accountant or bookkeeper will become your best friend at tax time. Reconcile, and reconcile again . Accounting software like Xero can streamline everything from income and expenses to assets and liabilities. . Thankfully, there’s a way to make sense of it all. By talking to your advisor. .

Reconciling 264

Reconciling XERO Tax Bookkeeping 264

Xero

DECEMBER 1, 2022

Set up foreign exchange bank accounts and bank feeds. By connecting your Xero account to Airwallex , you can extend these capabilities further. . “If Airwallex features include: Global accounts . Open 11 foreign currency accounts for free online, with no need to visit a bank. Receive bills and payments. 2.9% + 20p EEA.

XERO 264

XERO Reconciling Purchase Order Invoicing 264

Xero

FEBRUARY 15, 2023

Step two: Review and reconcile Go to payroll settings to review all the information that impacts your payroll reporting. We know that reconciling your posted pay runs is a regular task for you, but it’s always a great idea to run your eyes down reports like pay history and leave transaction reports to make sure there are no surprises.

Payroll 246

Payroll XERO Reconciling Tax 246

Xero

AUGUST 24, 2022

It was the perfect location to reconnect with our valued accounting and bookkeeping partners, and share some exciting plans for new tools and features designed to make inventory management, bank reconciliation and tax management simpler and more seamless. Syncing BMO transactions to your Xero account.

XERO 263

XERO Reconciling Bank Reconciliation Data Entry 263

Compleatable

NOVEMBER 15, 2024

For finance departments, one of the most transformative tools has been Artificial Intelligence (AI), which has quickly become an asset in streamlining Accounts Payable (AP) processes , combating fraud, and offering real-time insights. Adopting the latest tools isn’t just an advantage; it’s essential for staying competitive.

Accounts Payable 100

Accounts Payable Accounts Payable AP Accounting 100

Accounting Tools

DECEMBER 23, 2023

Why Should You Reconcile Inventory? How to Reconcile Inventory in 9 Steps To reconcile inventory , compare the inventory counts in the company's records to the actual amounts on the warehouse shelves, figure out why there are differences between the two amounts, and adjust the records to reflect this analysis.

Reconciling 75

Reconciling Record Keeping Auditing Billing 75

Accounting Department

MAY 4, 2023

The financial close process involves reconciling all of the company's activity over a set period of time. This process can be completed on a monthly basis, quarterly basis, yearly basis, or any other predetermined period.

Reconciling 236

Reconciling Accounts Receivable Account Receivables Accounts Receivable 236

Xero

MARCH 16, 2023

Continue your regular routine of reconciling your posted pay runs by scanning through Account Transactions, Gross to Net, P32 and P11 reports. By taking some time to reconcile these reports, you’ll pick up on any irregularities in accounts or employee final payment amounts, saving you rework later in this process.

Payroll 264

Payroll XERO Tax Reconciling 264

Xero

NOVEMBER 19, 2024

Gone are the days of manually comparing bank statements with accounting records. Today, with cloud accounting, you can securely and automatically import bank transaction data and easily reconcile it, so you have a single, up-to-date view of your transactions and cash flow. Bank feeds reduce manual admin and automate data entry.

XERO 238

XERO Data Entry Bank Reconciliation Reconciling 238

Xero

OCTOBER 3, 2023

If you’re trying to reconcile this statement line but don’t have these business names in your contact list, Xero will suggest these as new contacts, saving you precious time. So when we see names like ‘Amazon’, ‘ Transport for London’ or ‘Officeworks’, we can be pretty sure they are legitimate businesses.

Bank Reconciliation 290

Bank Reconciliation XERO Reconciling Accounting 290

Gaviti

MARCH 5, 2025

Accounts receivable fraud is becoming an increasingly pressing threat for businesses of all sizes, especially companies that grow or make a lot of changes. What makes Accounts Receivable Professionals and Operations Especially Vulnerable to Fraud? So it is important to encourage a culture of vigilance and accountability.

Accounts Receivable 80

Accounts Receivable Accounts Receivable Account Receivables Accounting 80

Counto

FEBRUARY 22, 2025

Multi-Channel Sales Accounting: How to Track Revenue Across Multiple Platforms Expanding your business across multiple sales channels can boost revenue, but it also brings accounting challenges. Set Up a Centralised Accounting System Using a cloud-based accounting system helps consolidate all sales data in one place.

Reconciling 52

Reconciling Accounting Accounting Data Entry 52

Xero

AUGUST 17, 2022

However, the job of managing invoicing can be a hassle, requiring you to juggle many tasks — tracking the status of sent invoices, chasing late payments, reconciling payments, and providing a great customer experience. . Invoices are critical to a business — they deliver the important message to customers and clients that payment is due.

XERO 262

XERO Invoicing Reconciling Invoice Processing 262

Xero

APRIL 13, 2023

Balance Sheet, Profit and Loss (Income Statement) and Budget Variance reports: We’ve added the ability to translate these reports into any currency enabled in your organisation, for a quick view of your financials in the currency of your choice Receivable and Payable Invoice Summary and Detail reports, and drilldowns from Income by Contact and Expenses (..)

XERO 347

XERO General Ledger Bank Reconciliation Budgeting 347

Xero

JUNE 1, 2022

We recently hosted our US Xero Partner Advisory Council (XPAC) meeting in Denver to hear from our valued accounting and bookkeeping partners about what matters most to them. Our XPAC members provide crucial insights and advice, and help inform us on the issues and challenges they’re seeing in the accounting industry.

XERO 246

XERO Bookkeeping Reconciling CPA 246

Xero

OCTOBER 24, 2023

This guest blog was written by the team at ecommerce accounting integration, Amaka. Proper preparation as a business owner or an accountant with e-commerce clients can help maximise Cyber Monday success. In fact, we’ve seen Amaka’s accounting integrations saving businesses around 12 hours of manual work monthly.

XERO 290

XERO Data Entry Reconciling Bookkeeping 290

Accounting Today

SEPTEMBER 25, 2023

GTT Communications self-reported that it has difficulty reconciling data from two different systems, and overreported its income as a result.

Reconciling 189

Reconciling Financial Reporting Accounting Accounting 189

Xero

APRIL 4, 2023

This has included their accounting systems and the interconnected apps that manage their ecommerce, logistics and inventory challenges – such as reconciling sales across multiple vendors. And now that we’ve got the accounting side figured out, we can aim even higher.”

XERO 279

XERO Data Entry Reconciling Collections 279

Xero

APRIL 16, 2025

Yet we know small businesses, accountants and bookkeepers face friction when it comes to paying bills, in fact over half of small businesses are spending more than four hours each month managing accounts payable. The visibility of whats going out helps to complete an accurate financial picture for your business.

Billing 220

Billing XERO Reconciling Small Business Accounting 220

Xero

MAY 24, 2023

It’s often said that (almost) no one goes into business to do their own accounting. For those on the Xero platform, collaborating with your accountant or bookkeeper is simple via the cloud. This means you can reconcile multiple records faster while minimising errors in manual data entry.

XERO 278

XERO Bank Reconciliation Data Entry Reconciling 278

Xero

AUGUST 7, 2024

And this year, we’re proud to have filled our exhibitor floor with some of the best and most loved apps for accountants, bookkeepers and small business owners alike. BILL allows you to automate accounts payable and accounts receivable processes, while directly syncing all payment actions back to Xero for you.

XERO 241

XERO Collections Accounts Payable Accounts Payable 241

Xero

MAY 16, 2023

Reconcile your payroll accounts After processing all pay runs for the financial year, it’s important to forensically check the accuracy of your reporting. Use the Account Transactions report to identify any transactions that may have been incorrectly reconciled against your Expense Accounts.

XERO 55

XERO Payroll General Ledger Reconciling 55

Xero

JANUARY 12, 2023

At Xero, our aim is to make life easier for accountants, bookkeepers and small businesses. And we understand that there’s a lot to get your head around, so we’ve shared three key facts about Xero that both new and experienced accounting and bookkeeping users may not have realised. This, however, is a myth that needs busting. .

XERO 55

XERO Bookkeeping Reconciling Invoicing 55

Xero

MAY 13, 2024

Reconcile your payroll accounts After processing all pay runs for the financial year, it’s important to forensically check the accuracy of your reporting. If you come across any discrepancies in your payroll accounts, you can use the remove and redo feature to edit the transaction and allocate it to the correct accounts.

XERO 264

XERO Payroll General Ledger Reconciling 264

Reconciled Solutions

SEPTEMBER 9, 2024

Do you want to build profitability into your business accounting? Do you follow generally accepted accounting principles? The post Nine Questions To Help Build Profitability Into Your Business Accounting appeared first on Reconciled Solutions. Let’s start with one question. GAAP tells the.

Reconciling 98

Reconciling Accounting Accounting 98