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,...
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...
As your company grows, things get complicated. More cash is coming in, which is good — but understanding what is really happening within your company’s walls and planning for the future can be more complex. There are a wide range of ways to invest for...
Business growth is exciting, but not without growing pains. At a certain point — usually around $1 million in revenue, although sometimes more — you can no longer be involved in every part of your business. You have to focus on what you’re good at...
Your accounting and finance functions are vital to running your business. They help you make decisions, stay compliant, reduce costs, file and pay your taxes timely and accurately, and provide meaningful financial information to management and external stakeholders....
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