In the early days of a small business, it is normal for a company’s initial members to play several different roles. For instance, the business owner is often saddled with maintaining the books, amongst many other critical tasks. While this juggling act may be...
5 Signs Your Business Needs An Accountant In the early stages of a company’s lifecycle, the key members within the organization, particularly the owner, may have to wear several different hats. On any given day, you might play the role of CEO, secretary,...
Top Five Accounting Best Practices Your Business Should Follow To run a successful business, you must keep a thorough record of your numbers. Through diligent accounting, you can ensure your company is viable and your cash flow never throws you a curveball. To...
A company’s general ledger (G/L) is a comprehensive record of all your accounting transactions. Whenever a transaction is made, that transaction is recorded in the general ledger. Each journal consists of a debit to one account and a credit to another. Software, such...
A good accounting system makes running your business so much easier, yet implementing a new accounting system is no easy feat. It can take anywhere from months to years. The implementation process is also ripe for errors if not planned correctly. Consequently, you...
Financial reporting is a vital accounting process that communicates your company’s financials to internal stakeholders (management) and external stakeholders (customers, investors, lenders, regulators, etc.). There are four main financial reports — also called...
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