Accounting Tools

APRIL 13, 2023

External auditors will likely want to use internally-prepared reconciliation statements as part of their auditing procedures , since the statements allow them to focus on reconciling items, especially in large-balance accounts that are materially significant components of the financial statements. Accounts receivable.

Reconciling 40

Reconciling Bank Reconciliation Deposits Bookkeeping 40

5 Minute Bookkeeping

MARCH 8, 2021

You may be hired as a virtual bookkeeper to clean up specific areas of QuickBooks, like bank reconciliations, undeposited funds, inventory, etc. You may also need to clean up sales tax, payroll, the chart of accounts, the products and services list, company settings, bank feeds, and App integrations, depending on the situation.

QuickBooks 52

QuickBooks Bank Reconciliation Reconciling Virtual Bookkeeping 52

Accounting Tools

MAY 3, 2023

For example, if you accrue an expense, this also increases a liability account. The entry is: Debit Credit Bad debts expense 5,000 Allowance for doubtful accounts 5,000 Accrued revenue : Arnold Corporation accrues $50,000 of earned but unbilled revenue.

Accruals 40

Accruals General Ledger Bank Reconciliation Financial Statements 40

Accounting Tools

MARCH 29, 2024

When issued, debit memos typically appear on the monthly statements of outstanding accounts receivable that are sent to customers. This usage is not common, since many companies simply re-issue the original invoice with an adjustment, or issue an invoice for the incremental amount, rather than use a debit memo.

Billing 40

Billing Deposits Invoicing Accounts Receivable 40

Nanonets

FEBRUARY 28, 2024

Since the money account is obtaining income, then the debit section will show a gain and display an amount for the amount. For this transaction, the credit section will stay intact for this account. To retain the accounting equation's net-zero discrepancy, one asset account must enhance while another reduces by the same quantity.

General Ledger 52

General Ledger Data Entry Invoicing Accounts Payable 52

Nanonets

FEBRUARY 8, 2024

Supporting your accounts receivable team starts with getting the right tools for success. AR Collect Similar to Chaser, AR Collect is an accounts receivables tool that makes it easy to manage cash flow. Some QuickBooks add-ons just make sense, and this is definitely one of them. Chaser is one of those tools.

QuickBooks 52

QuickBooks AR Collections AR Payroll 52

Cloud Accounting Podcast

AUGUST 3, 2020

What is the definition of hurt? What is the definition of need for this money? YayPay, if you're not familiar with it, they're an automated accounts receivable application - invoice delivery, collections management, credit assessment, payment and cash application solutions. David Leary: [00:26:42] They're up-market, right?

QuickBooks 40

QuickBooks XERO Bookkeeping Payroll 40