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Why Did Bench Accounting Shut Down and What Should You Do Now?

Bookkeeping Express

In a shocking turn of events, Bench Accounting, once a prominent player in the bookkeeping space, has ceased operations, leaving many small business clients scrambling to figure out what to do next. For thousands of small businesses who relied on Bench, this news is more than a headlineits a major disruption.

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Top 6 Benefits of Outsourcing Accounting Services for Your Business in 2025

Analytix Finance & Accounting

When you outsource your accounting, tax preparation becomes an ongoing process rather than a stressful annual event. They establish systematic processes to ensure your financial records remain accurate, organized, and up-to-date, giving you a clear picture of your daily financial position.

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Accounting entry definition

Accounting Tools

Without a complete set of accounting entries, an organization will not have sufficient information to construction a set of financial statements, and therefore no way to judge its financial performance or financial position. This type of accounting entry is used under both the accrual basis and cash basis of accounting.

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How To Do Accounts Receivable Reconciliation

Nanonets

Accounts receivable reconciliation is a fundamental accounting process that involves comparing and verifying the balances in the accounts receivable ledger against supporting documentation and external records. Any discrepancies found are investigated and resolved to maintain the integrity of the financial records.

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Understanding the Accounts Receivable Process: Step-by-Step

Billing Platform

In the event of an invoice dispute, the customer may pay the portion of the invoice that is not in dispute. Decisions as to whether debt is uncollectible varies by industry, as well as the company’s internal financial policies. Step 7: Process Payments To ensure accurate financial records, efficient payment processing is essential.

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Understanding What is the Accounting Cycle: A Simple Guide

Nanonets

The accounting cycle is a series of steps that businesses follow to record and process financial transactions. The accounting cycle is crucial for accurate and reliable financial reporting, as it ensures that all financial transactions are properly recorded and reported.

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OCR, Invoice Scanning & Automated Invoice Processing Software for QuickBooks

Nanonets

Intelligent Data Interpretation : Beyond mere extraction, advanced AI algorithms interpret invoice data, automating tasks such as general ledger coding and expense categorization based on historical data and contextual understanding. Accurate data entry is essential to ensure financial records are reliable and up to date.