Remote Quality Bookkeeping

JUNE 26, 2023

You may or may not even be aware that you have options when deciding how to do your accounting and that your choices will impact how you produce your financial statements and file your taxes. The two primary accounting methods are cash accounting and accrual accounting. What is an accounting method?

Accruals 52

Accruals Accounting Accounting Bookkeeping 52

Less Accounting

MAY 9, 2023

Take a look at this bookkeeping cleanup checklist to get all your financial ducks in a row. Collect all your financial records It’s hard to say which part of this process is the most difficult, but depending on the type of business you have, rounding up all your past financial records may be the most time-consuming.

Bookkeeping 98

Bookkeeping Accruals Reconciling Accounting Software 98

Less Accounting

SEPTEMBER 25, 2023

Determine what type of accounting you’ll do There are two types of accounting to choose from: cash basis and accrual. It’s better for long-term financial planning and analysis. You can always transition to accrual accounting as you grow and your financial transactions become more complex.

Small Business Accounting 52

Small Business Accounting Accruals Bookkeeping Accounting 52

Nanonets

MAY 6, 2024

This process includes verifying transactions against payroll registers and tax reports, ensuring that tax withholdings match figures reported to tax authorities, accounting for accruals and adjustments related to payroll expenses, and verifying the accurate calculation and recording of employee benefits and deductions.

General Ledger 52

General Ledger Reconciling Data Entry Payroll 52

AvidXchange

MARCH 22, 2024

As a result, he experienced time savings, more accurate financial statements and centralized data. "Before, we were pushing a lot of paper. In a previous role, his team implemented AvidXchange to automate AP functions. Invoices were coming in manually. They were circulated for approval either by e-mail or paper folders.

Accounting 52

Accounting Accounting AP Budgeting 52

Remote Quality Bookkeeping

JULY 24, 2023

If a company does make any changes to its accounting method, a clear record of that change is publicly available. Accountants are responsible for creating accurate financial records and reports that provide an honest picture of a company’s financial situation.

Financial Reporting 52

Financial Reporting Bookkeeping Financial Statements Accruals 52

Jetpack Workflow

MARCH 21, 2023

For businesses using the accrual method of accounting, it means double the work, entering data twice for every transaction. It provides many benefits, including improved accuracy and efficiency in financial record keeping. However, it’s not always a smooth process with Excel templates.

Bookkeeping 52

Bookkeeping Bank Reconciliation Reconciling Accounting Software 52

AvidXchange

OCTOBER 31, 2017

I perform the monthly closing of financial records and posting of month-end and quarterly-end information while ensuring the accuracy of financial statements. I can go in and pull all the invoices that are unbatched for that month, and we can set up our accrual from there, where before we would have to wait for the mail.

AP 52

AP Invoicing Accounts Payable Accounts Payable 52

Nanonets

APRIL 4, 2023

Excel can also be used to create a full accounting system, complete with financial statements, for a complex business with lots of expenses, income streams, assets, and debts. Because of this, larger or more complex businesses and companies with shareholders will choose the other accounting method: accrual accounting.

Small Business Accounting 52

Small Business Accounting Accruals Accounting Accounting 52