Accounting Tools

OCTOBER 20, 2023

However, it may be necessary to convert to the accrual basis of accounting , perhaps to have the company's books audited in preparation for its sale, or to go public, or to obtain a loan. The accrual basis is used to record revenues and expenses in the period when they are earned, irrespective of actual cash flows.

Accruals 76

Accruals Accounting Accounting Account Receivables 76

Billing Platform

FEBRUARY 17, 2025

Accrued revenue is a cornerstone of accrual accounting, playing a vital role in accurately reflecting a company’s financial performance. This article explores the meaning, examples, and importance of accrued revenue, while comparing it with deferred revenue and accounts receivable. What is Revenue Accrual?

Accruals 73

Accruals Account Receivables Accounts Receivable Accounts Receivable 73

Nanonets

APRIL 4, 2023

You can see every activity: your direct deposit, your cell phone bill, the pizza you ordered, and a balance that shows how much is in the account after every transaction. 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

Nanonets

MAY 6, 2024

The General Ledger is a central accounting record that contains all financial transactions of a business, organized in a systematic and structured manner.    The GL comprises various accounts, each representing a specific financial aspect of the business.  

General Ledger 52

General Ledger Reconciling Data Entry Payroll 52

Nanonets

JUNE 17, 2023

Account reconciliation is a process that compares a company's general ledger (GL) balance with an alternative source of transaction information, such as statements from banks, credit card companies, loan providers, or separate internal systems like fixed assets, accounts receivable, and inventory sub ledgers.

Account Reconciliation 52

Account Reconciliation General Ledger Accounting Accounting 52

Cloud Accounting Podcast

AUGUST 3, 2020

David Leary: [00:09:37] Unless some miracle happens on the Hill tomorrow, or today possibly - I'm sure they've worked all weekend- Blake Oliver: [00:09:45] This is not good news, but I do have a little bit of good news, which is that the IRS is making it easier to change your accounting method during the pandemic.

QuickBooks 40

QuickBooks XERO Bookkeeping Payroll 40