Accounting Tools

OCTOBER 3, 2023

Related Courses Bookkeeping Guidebook New Controller Guidebook The Problem With Numeric Account Codes The typical account code structure uses a four or five digit numeric code that describes a primary account, followed by a hyphen, and then a two or three digit numeric code that describes a department.

Computation 40

Computation Accounting Software Bookkeeping Accounting 40

Accounting Tools

AUGUST 1, 2023

Related Courses Contract Management Project Accounting Project Management What is a PERT Chart? A PERT chart gives a visual representation of the critical path of a project. A PERT chart is especially useful for the management of more complex projects that would overwhelm a Gantt chart.

Accounting 40

Accounting Accounting 40

Accounting Tools

OCTOBER 22, 2023

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook A general ledger account is a record in which is recorded a specific type of transaction. The ending balances in these accounts are then aggregated and reported in the balance sheet and income statement.

General Ledger 40

General Ledger Accounting Accounting Accounts Payable 40

Accounting Tools

APRIL 17, 2023

A permanent file is a set of records that serves as an ongoing reference for an organization's external auditors. The information in the file is intended to be accessed repeatedly in successive audits to assist the audit team in the conduct of their tasks.

Auditing 40

Auditing Accounting Accounting 40

Accounting Tools

JULY 30, 2023

Related Courses 7 Habits of Effective Controllers Controller Education Bundle New Controller Guidebook The controller and comptroller titles refer to the same position, which is the person responsible for all accounting operations of a business. In essence, the titles are mutually exclusive within an organization.

General Ledger 75

General Ledger Financial Statements Accounts Payable Accounts Payable 75

Accounting Tools

JUNE 20, 2023

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is a Normal Account Balance? A normal balance is the expectation that a particular type of account will have either a debit or a credit balance based on its classification within the chart of accounts.

Accounting 75

Accounting Accounting Account Reconciliation Reconciling 75

Accounting Tools

DECEMBER 23, 2023

What is an Accounting Manual? An accounting manual is an internally-developed handbook that contains the policies and procedures to be followed by an accounting staff. In addition, the manual may contain sample forms, a chart of accounts , and job descriptions.

Accounting 40

Accounting Accounting Budgeting 40

Outsourced Bookeeping

OCTOBER 26, 2023

This article will examine 8 useful bookkeeping stratergies that every owner of a small business ought to be aware of. Create a Chart of Accounts: A crucial component of small business bookkeeping and accounting is the development of a chart of accounts (COA). Nevertheless, the work does not have to be hard.

Bookkeeping 52

Bookkeeping Outsourced Bookkeeping Small Business Bookkeeping Data Entry 52

Accounting Tools

OCTOBER 3, 2023

Related Courses Bookkeeping Guidebook New Controller Guidebook The number of digits used to describe each account in a chart of accounts drives the level of detail that can be recorded. Account No.

Petty cash 40

Petty cash Computation Accounting Accounting 40

Accounting Tools

JUNE 6, 2023

Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is a Negative Balance? A negative balance occurs when the ending balance in an accounting record is the reverse of the expected normal balance. This expectation is based on an account's classification within the chart of accounts.

Bookkeeping 72

Bookkeeping Accounts Payable Accounts Payable Financial Accounting 72

Accounting Tools

SEPTEMBER 7, 2023

The indirect method for the preparation of the statement of cash flows involves the adjustment of net income with changes in balance sheet accounts to arrive at the amount of cash generated by operating activities. Related Courses The Statement of Cash Flows What is the Cash Flow Statement Indirect Method?

Financial Statements 75

Financial Statements Accounts Receivable Accounts Receivable Account Receivables 75

Accounting Tools

JUNE 15, 2023

Doing so preserves accountability, and may also be used to calculate bonus payments for employees. These centers are usually stated on a firm’s organization chart. Related Articles Internal Users of Accounting Information The Qualitative Characteristics of Financial Statements Which Financial Statement is the Most Important?

Financial Statements 75

Financial Statements Financial Reporting Accounting Accounting 75

Accounting Tools

SEPTEMBER 27, 2023

What is an Accounting Entity? An accounting entity is a business for which a separate set of accounting records is maintained. The accounting entity concept is used to establish the ownership of assets and obligation for liabilities , as well as to determine the profitability of a specific set of economic activities.

General Ledger 40

General Ledger Accounting Accounting Financial Statements 40

Accounting Tools

AUGUST 30, 2023

Expand the Chart of Accounts Add more detail to the chart of accounts , so that expenses are tracked not just in aggregate, but also by department, and also by expense type within each department. A spend management system is used to reduce the total expenditures of a business.

Accounts Payable 40

Accounts Payable Accounts Payable Auditing Accounting 40

Accounting Tools

SEPTEMBER 7, 2023

Related Courses Closing the Books The Soft Close The Year-End Close What is the Income Summary Account? The income summary account is a temporary account into which all income statement revenue and expense accounts are transferred at the end of an accounting period. As such, the account is not strictly necessary.

General Ledger 75

General Ledger Accounting Accounting Account Reconciliation 75

Cloud Accounting Podcast

APRIL 19, 2023

57:50) - Blake co-wrote an article for CPA Practice Advisor (01:02:31) - Wrap up and where to reach us Need CPE? The M-Score is warning that the chance of fraud is the highest in over 40 years; Did KPMG fail to issue a critical audit matter for Silicon Valley Bank?;

CPA 96

CPA Accounting Accounting QuickBooks 96

Less Accounting

JUNE 15, 2023

Accounting can often be a daunting task, especially when you have a lot on your plate already. However, it’s crucial to understand the basics of accounting and to set up a proper system to avoid any potential financial mishaps down the line. Accounting principles are the foundation of your financial statements.

Financial Statements 52

Financial Statements Accounting Accounting Budgeting 52

Accounting Tools

AUGUST 2, 2023

Related Courses Cost Accounting Fundamentals Excel Charts and Visualizations What is the Scattergraph Method? The resulting chart is used to identify and separate the fixed and variable components of a cost. Generally, the scattergraph method is a useful tool within the field of management accounting.

Cost Accounting 40

Cost Accounting Budgeting Collections Management Accounting 40

Counto

JANUARY 9, 2024

For businesses incorporated in Singapore, understanding this concept is crucial not only for regulatory compliance but also for charting a path towards financial stability and growth. Yes, paid-up capital must be deposited in the company’s corporate bank account, and it must be in cash. Must Paid-Up Capital be Paid in Cash?

Deposits 52

Deposits Accounting Accounting 52

Accounting Tools

JULY 11, 2023

Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is Financial Accounting? Financial accounting is the practice of recording and aggregating financial transactions into financial statements. Management accounting reports are only intended for internal use.

Financial Accounting 40

Financial Accounting Financial Statements Accounting Accounting 40

Accounting Tools

AUGUST 2, 2023

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook The Balance Sheet What is a Contra Asset Account? A contra asset account is an asset account with a natural credit balance. Nearly all asset accounts have a natural debit balance. The first is the allowance for doubtful accounts.

Accounting 40

Accounting Accounting Bookkeeping Financial Statements 40

Accounting Tools

JULY 12, 2023

Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is the Expanded Accounting Equation? The expanded accounting equation provides an enhanced level of detail regarding the standard accounting equation.

Accounting 40

Accounting Accounting Bookkeeping Accounts Receivable 40

Jetpack Workflow

FEBRUARY 16, 2023

Does your accounting firm have a policies and procedures manual for your business or your clients? There are bookkeeping and accounting business owners who put off assembling a manual and wing it instead. A comprehensive accounting policy and procedure manual accomplishes that and benefits your firm in other ways.

General Ledger 52

General Ledger Accounting Accounting Budgeting 52

Accounting Tools

JULY 16, 2023

Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is the General Ledger? A general ledger is the master set of accounts that summarize all transactions occurring within an entity. Each entry in the general ledger includes a reference number that states the source of the information.

General Ledger 40

General Ledger Bookkeeping Reconciling Financial Statements 40

Counto

FEBRUARY 12, 2024

Designating specific duties ensures accountability and streamlines decision-making processes. 9 Common Mistakes to Avoid During Company Incorporation in Singapore In the bustling business landscape of Singapore, company incorporation is a strategic move for entrepreneurs seeking to establish a foothold in the region’s vibrant economy.

Budgeting 52

Budgeting Accounting Accounting 52

oAppsNet

JANUARY 9, 2024

This article serves as a comprehensive guide, delving into the essential steps and advanced strategies businesses can employ to master the art of Vendor Statement Reconciliation. Vendor Statement Reconciliation involves a meticulous comparison and alignment of a company’s financial records with those provided by its vendors.

Purchase Order 52

Purchase Order Reconciling Invoicing Financial Records 52

RevCycle

JULY 6, 2021

The following excerpt is from a recent Forbes article : “ According to interviews AccessOne conducted with 47 healthcare billing executives, 43% of providers reported increases in patient requests for payment plans even as hospitals face their own financial struggles, and 40% report an increase in bad debt. Finally, this pie chart.

Revenue Cycle 52

Revenue Cycle Collections Billing Accounting 52

Accounting Tools

JUNE 19, 2023

Related Courses Business Combinations and Consolidations CPA Firm Mergers and Acquisitions Divestitures and Spin-Offs Mergers and Acquisitions What is an Acquisition Due Diligence Checklist? Some questions may need to be added for an industry-specific acquisition, while far fewer will be needed for an asset acquisition.

Financial Statements 73

Financial Statements Auditing Tax Accounts Payable 73

Future Firm

MAY 24, 2023

Here is my complete guide to emerging accounting technologies for 2023. In this guide, you’ll learn about the top accounting technology in the profession along with some tips and tricks on how to leverage them. So if you’re looking to leverage software to automate your accounting work, you’ll love this guide.

Accounting 98

Accounting Accounting Computation XERO 98

Jetpack Workflow

APRIL 6, 2023

Managing your accounting team’s workload as a CPA or accounting firm owner can be time-consuming, especially when you feel like you’re drowning in work. In this article, we’ll focus on five specific tips you can use to better manage your accounting team’s workload. So it looks a little bit like cell manufacturing.”

Accounting 52

Accounting Accounting CPA Data Entry 52

Accounting Tools

OCTOBER 8, 2023

For example, in the two examples below, the income statement analysis shows a company having an excellent second year, but the related balance sheet analysis shows that it is having trouble funding growth, given the decline in cash , increase in accounts payable , and increase in debt.

Financial Statements 40

Financial Statements Financial Analysis Accounts Payable Accounts Payable 40

Nanonets

MAY 3, 2023

Traditionally, finance has been the domain of the smartest in our society. Now, AI tools are pushing the limits of analysis and decision-making in finance, changing the lives and careers of finance professionals around the world. AI’s can analyze more data faster than any human can.

Data Entry 94

Data Entry Tax Computation Budgeting 94

Cloud Accounting Podcast

JUNE 22, 2018

Stories in this episode: Last week’s IPO, Avalara, is today’s big winner in internet tax rally — Accounting Today — Shares in the sales tax management firm rose as much as 32 percent after Wednesday’s ruling, extending gains to more than double since its public debut last week. But Amazon stands to benefit from the ruling, experts say.

Tax 40

Tax Collections Accounting Accounting 40

Nanonets

MAY 7, 2023

This article will define credit card reconciliation and discuss the two types of reconciliation. Credit card reconciliation is the process of matching credit card statements with receipts and invoices to ensure that all charges on the credit card are accounted for. Billion in 2020 only for North American regions.

Bank Reconciliation 52

Bank Reconciliation General Ledger Reconciling Billing 52

Nanonets

JULY 25, 2023

In this article, we will explore what financial reporting automation entails, its benefits, key features, areas that can be automated, and how Nanonets can contribute to this automation journey. This is where financial reporting automation comes into play. What is financial reporting automation?

Financial Reporting 52

Financial Reporting Data Entry Financial Statements Budgeting 52

Nanonets

MARCH 4, 2024

fostering a culture that values transparency, accountability, and continuous improvement. fostering a culture that values transparency, accountability, and continuous improvement. However, managing this process is fraught with challenges. leveraging the right technology to streamline your expense reimbursement workflow.

Expense Reports 52

Expense Reports Record Keeping Budgeting Data Entry 52

IMA's Count Me

NOVEMBER 26, 2019

Fatima is a chartered accountant, entrepreneur and a business coach from Johannesburg, South Africa who joined Mitch for a conversation on what she calls the business savvy accountant. and then the third thing that too, we are never taught as accountants I would say, is communication skills. I think that goes without saying.

Accounting 40

Accounting Accounting Auditing Collections 40