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Financial accounting basics

Accounting Tools

In financial accounting, a transaction triggers the recording of information about the money involved in the event. An account is a separate, detailed record about a specific item, such as expenditures for office supplies, or accounts receivable, or accounts payable. Accounts receivable.

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Quality Bookkeeping: Your First Line of Defense Against Fraud

Bookkeeping Express

Our blogs regularly detail how professional bookkeeping can help businesses survive and thrive beyond simply recording transactions and preparing tax filings, like driving profitability with financial reporting , forecasting cash flow , and optimizing your accounts receivable. Approval and authorization records.

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Credit Card Reconciliation: What It is and How to Do It?

Nanonets

The process of credit card reconciliation may be integrated into the software you use for accounting, as it is in QuickBooks; however, it is also possible that you will need an additional tool like accounting automation software to assist you with this process. This step is referred to as "balancing" the statement.

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An Overview of Netsuite AP Automation

Nanonets

Here are some key aspects of NetSuite automation: Workflow Automation: NetSuite allows businesses to automate workflows for various processes, such as sales order approvals, expense report submissions, purchase requisitions, and more. Revenue Recognition For companies that need to comply with revenue recognition standards (e.g.,

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147 Cloud Accounting Software Apps: The Big List

Future Firm

While the list of accounting software is in no particular order, it has been grouped according to categories based on their accounting features so you can find the best accounting software apps that fit your interest. Their web-based product is packed full of accounting features. Ready to dive in? Check Expensify.

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11 Key Items for a Month-End Close Checklist (Free Template)

Jetpack Workflow

Complete Reconciliations for All Bank Accounts and Credit Cards A typical reconciliation process for bank accounts and credit cards includes looking for discrepancies between each account and its general ledger counterpart. Doing this ensures you capture the correct expense details, including the amounts and dates.

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How to set up NetSuite Invoice Approval Workflow?

Nanonets

  NetSuite cloud accounting software helps your business record and manage transactions, including those related to accounts receivable and accounts payable, close the books, and prepare reports and financial statements.