Remote Quality Bookkeeping

APRIL 14, 2025

Familiarize Yourself With Your Bookkeeping System Businesses use two primary methods to document revenue and expenses and report to the IRS: cash basis or accrual. Accrual Basis Bookkeeping With accrual basis bookkeeping, you record income when it’s earned and expenses when they are incurred, regardless of when money is exchanged.

Bookkeeping 52

Bookkeeping Small Business Bookkeeping General Ledger Accruals 52

Jetpack Workflow

SEPTEMBER 1, 2024

Review and Adjust Financial Statements At the annual close, you need to thoroughly review the financial statements prepared by your bookkeeping team against the client’s general ledger accounts. What to put on your checklist for this task: Compare financial statements with the general ledger.

General Ledger 52

General Ledger Financial Statements Accounting Accounting 52

Nanonets

APRIL 30, 2023

Payroll accounting follows the matching principle under accrual accounting. To follow the matching principles, businesses record payroll expenses to the accrual account until those items are paid out of the checking account. Step #4: Post Payroll After entering the journal entries, you must post them to the general ledger.

Payroll 52

Payroll General Ledger Accruals Accounting 52

Nanonets

SEPTEMBER 21, 2023

The essential steps of the accounting cycle include analyzing and recording transactions, posting to the general ledger, preparing a trial balance, making adjusting entries, preparing financial statements, making closing entries, and sometimes making reversing entries.

General Ledger 40

General Ledger Financial Statements Accounting Accounting 40

AvidXchange

SEPTEMBER 19, 2017

Roll forward fixed assets: prepaid, expense accruals, etc. Review standard/recurring journal entries for completeness Run the critical financial reports, particularly the trial balance and general ledger to give them the “eye test.” Perform reconciliations: bank, credit card, inventory, etc.

Billing 52

Billing AP Accounts Payable Accounts Payable 52

Nanonets

JUNE 29, 2023

Features: Flexible intake and approval workflows, Seamless integration with other business systems and with general ledgers, Creation of rules that reflect the company’s specific policies Record keeping of every dollar spent Easy retrieval of documentation for auditing or booking purposes. Sources: [link] 6.

Budgeting 52

Budgeting Expense Reports Data Entry Invoicing 52

Nanonets

APRIL 16, 2023

Artificial intelligence is used to learn from past experience and suggest specific general ledger (GL) codes or approval routing paths. Coding Invoices AP automation helps a company establish rules that will choose the correct general ledger (GL) code for each invoice. Best For Startups and companies with a small budget.

AP 52

AP Accounts Payable Accounts Payable Purchase Order 52