Xero

MAY 17, 2022

Reconcile your accounts, comparing the Payroll Activity Summary report and the General Ledger. We havet a support article available in Xero Central that provides some useful information about reviewing your payroll transactions at the end of the financial year. Troubleshooting tips.

Payroll 246

Payroll General Ledger XERO Reconciling 246

Accounting Tools

DECEMBER 23, 2023

Why Should You Reconcile Inventory? How to Reconcile Inventory in 9 Steps To reconcile inventory , compare the inventory counts in the company's records to the actual amounts on the warehouse shelves, figure out why there are differences between the two amounts, and adjust the records to reflect this analysis.

Reconciling 75

Reconciling Record Keeping Auditing Billing 75

Gaviti

MARCH 5, 2025

Accounts receivable fraud is becoming an increasingly pressing threat for businesses of all sizes, especially companies that grow or make a lot of changes. What makes Accounts Receivable Professionals and Operations Especially Vulnerable to Fraud? So it is important to encourage a culture of vigilance and accountability.

Accounts Receivable 80

Accounts Receivable Accounts Receivable Account Receivables Accounting 80

Counto

FEBRUARY 22, 2025

Multi-Channel Sales Accounting: How to Track Revenue Across Multiple Platforms Expanding your business across multiple sales channels can boost revenue, but it also brings accounting challenges. Set Up a Centralised Accounting System Using a cloud-based accounting system helps consolidate all sales data in one place.

Reconciling 52

Reconciling Accounting Accounting Data Entry 52

Xero

JANUARY 12, 2023

At Xero, our aim is to make life easier for accountants, bookkeepers and small businesses. And we understand that there’s a lot to get your head around, so we’ve shared three key facts about Xero that both new and experienced accounting and bookkeeping users may not have realised. This, however, is a myth that needs busting. .

XERO 55

XERO Bookkeeping Reconciling Invoicing 55

Counto

MARCH 24, 2025

How Accounting Services Simplify Estimated Chargeable Income (ECI) Filing For many business owners, Estimated Chargeable Income (ECI) filing can feel like just another item on an already long to-do list. Heres how accounting services help simplify ECI filing making it less of a burden and more of a routine you can handle with confidence.

Corporation Tax 52

Corporation Tax Accounting Accounting Reconciling 52

Counto

MARCH 23, 2025

How Much Do Accounting Services Cost in Singapore? A Guide for SMEs For small business owners in Singapore, outsourcing accounting tasks can save time, reduce errors, and ensure compliance. But one of the most common questions is: how much do accounting services actually cost? Experience live accounting here.

Bookkeeping 52

Bookkeeping Accounting Accounting Payroll 52

Xero

NOVEMBER 30, 2022

When you select the figures in the ‘This month’ column on your accounts watchlist on the Xero dashboard, you’ll now be taken to the new version of the Account Transactions report. The invoice list in the Xero Accounting app (Android only) is being refreshed, making it easier for you to view and find information about your business.

XERO 246

XERO Payroll Bank Reconciliation Invoicing 246

Accounting Tools

APRIL 25, 2024

What is a Reconciling Item? A reconciling item is a difference between balances from two sources that are being compared. These items are stated in an account reconciliation , so that the balance from one source is adjusted by reconciling items to arrive at the balance from the other source. Deposits in transit.

Reconciling 40

Reconciling General Ledger Bank Reconciliation Account Reconciliation 40

Counto

DECEMBER 7, 2024

Example: John, a bakery owner in Singapore, only looks at his financials when his accountant sends them for tax season. Our expert accountants deliver comprehensive servicesfrom bookkeeping to tax filingat transparent rates. Explore our all-in accounting plans and keep more of what you earn.

Financial Statements 52

Financial Statements Reconciling Accounts Payable Accounts Payable 52

Gaviti

FEBRUARY 2, 2025

In this article, we attempt to explain the connection between the operating cycle and A/R, identifying bottlenecks, and implementing strategies to improve efficiency, you can achieve faster cash flow and enhanced financial performance. Make better credit decisions, lower DSO, and reconcile payments with near perfection.

Accounts Receivable 52

Accounts Receivable Accounts Receivable Account Receivables AR 52

Accounting Tools

MAY 19, 2023

Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is a Ledger Account? A ledger account contains a record of business transactions. Terms Similar to Ledger Account A ledger account is also known as an account.

General Ledger 75

General Ledger Accounting Accounting Reconciling 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

AvidXchange

DECEMBER 20, 2024

Creating 1099 reporting is one task that can take less time with accounts payable (AP) automation. Simplified Reconciliation Automated systems can provide timely reporting and visibility into supplier payments, making it easier to reconcile accounts during tax season. Tax season is a busy time for finance departments.

AP 52

AP Data Entry Accounts Payable Accounts Payable 52

Accounting Tools

NOVEMBER 5, 2023

Related Courses How to Audit Receivables How to Conduct an Audit Engagement The Balance Sheet What is an Accounts Receivable Confirmation? When an auditor is examining the accounting records of a client company, a primary technique for verifying the existence of accounts receivable is to confirm them with the company's customers.

Accounts Receivable 75

Accounts Receivable Accounts Receivable Account Receivables Accounting 75

Gaviti

JANUARY 20, 2025

In todays fast-paced business environment, achieving financial accuracy is critical for maintaining stakeholder trust and ensuring compliance with accounting standards. One cornerstone of accurate financial reporting is the matching principle in accounting, a concept that ensures revenues and expenses are recorded in the same period.

AR 52

AR Financial Statements Invoicing Collections 52

Accounting Tools

NOVEMBER 1, 2023

Related Courses Accountants' Guidebook Bookkeeping Guidebook New Controller Guidebook An accountant is a person who records business transactions on behalf of an organization, reports on company performance to management, and issues financial statements. Management reports are issued to the management team.

General Ledger 75

General Ledger Accounting Accounting Financial Statements 75

Accounting Tools

JUNE 14, 2023

Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is a Suspense Account? A suspense account is an account used to temporarily store transactions for which there is uncertainty about where they should be recorded. An entry into a suspense account may be a debit or a credit.

Accounting 74

Accounting Accounting Accounts Payable Accounts Payable 74

Counto

FEBRUARY 19, 2025

Warning signs: Unapproved or unexpected withdrawals from business accounts Irregular payment patterns or unrecognised vendors Employees or vendors requesting payments to new accounts without proper documentation 4. Enable multi-factor authentication (MFA) for financial accounts. Streamline your finances today. Learn more here.

Billing 52

Billing Accounts Payable Accounts Payable Invoicing 52

Accounting Tools

DECEMBER 22, 2023

Customer Advance Due to Cash Basis Accounting The customer may be operating under the cash basis of accounting , and so wants to pay cash as soon as possible in order to recognize an expense and reduce its reportable income in the current tax year. Debit the cash account and credit the customer advances (liability) account.

Accounting 75

Accounting Accounting Reconciling Bookkeeping 75

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

Nanonets

MAY 21, 2024

Accounts receivable reconciliation is a crucial process within accounting and financial management practices undertaken regularly by a business. As transactions with customers and clients occur, businesses generate accounts receivable, which represent amounts owed to them for goods and services sold or rendered.

Accounts Receivable 52

Accounts Receivable Accounts Receivable Account Receivables General Ledger 52

Future Firm

JULY 21, 2022

Does your firm use an accounting engagement letter when signing on a new client? In this article, you’re going to learn about: What an accounting engagement letter for your firm is. Accounting Engagement Letter: What Is It? What’s included: Enter all expenses into the accounting system based on their invoice date.

Accounting 98

Accounting Accounting Accruals Bookkeeping 98

Blake Oliver

MARCH 15, 2023

There are more good accounting firms than ever looking to sell. That’s one of the lessons from my interview with Michael Ly, owner of Reconciled. Read the article on Accounting Today. But you may have to go on many dates before you find the perfect match. Permalink

Reconciling 52

Reconciling Accounting Accounting 52

Nanonets

APRIL 12, 2024

The Importance of Accounts Reconciliation Companies handle a variety of finance-related documents, ranging from bank statements to invoices and payroll records. Amidst this deluge of numbers and figures lies a crucial task: account reconciliation.

Account Reconciliation 52

Account Reconciliation Reconciling General Ledger Bank Reconciliation 52

Nanonets

MAY 21, 2024

Seven Best Practices for Effective Account Reconciliations From Mesopotamia's rudimentary ledgers tracking livestock and crops to the second-century BCE Indian treatise " Arthashastra ", accounting has been a cornerstone of economic management in any civilized society.

Account Reconciliation 52

Account Reconciliation Reconciling Accounting Accounting 52

Counto

DECEMBER 16, 2024

Whether youre handling accounting services , managing your team, or overseeing operations, time is always of the essence. How it helps: Helps prioritise accounting and financial tasks based on urgency and importance, such as tax filing dates or financial reporting deadlines. At Counto, we prioritise your bottom line.

Financial Reporting 52

Financial Reporting Financial Statements Bookkeeping Tax 52

Accounting Tools

AUGUST 14, 2024

If you were to ignore these differences, there would eventually be substantial variances between the amount of cash that you think you have and the amount the bank says you actually have in an account. The result could be an overdrawn bank account, bounced checks , and overdraft fees. Account shut down. Demanded by auditors.

Bank Reconciliation 75

Bank Reconciliation Deposits Reconciling Auditing 75

Accounting Tools

FEBRUARY 8, 2024

The vouchers are then stored as accounting records. The cash voucher form should contain space for the name of the cash recipient, that person's initials, the amount of cash disbursed, the date, the reason for the disbursement , and the account code to which the disbursement should be charged. What is Included on a Cash Voucher?

Petty cash 75

Petty cash Reconciling Financial Statements Bookkeeping 75

Accounting Tools

AUGUST 23, 2023

The report is used to determine the exact payments included in a check run; as such, it is considered a necessary part of the accounts payable process. The report may also be used as part of the bank reconciliation process, to determine which issued checks have not yet cleared the bank, and so are reconciling items.

Bank Reconciliation 75

Bank Reconciliation Accounts Payable Accounts Payable Reconciling 75

Accounting Tools

MAY 15, 2023

Under the allowance method , an estimate of the future amount of bad debt is charged to a reserve account as soon as a sale is made. Related Articles How to Estimate Uncollectible Receivables How to Reconcile Accounts Receivable How to Write Off a Bad Debt When the Bad Debt Expense can be Negative

Reconciling 75

Reconciling Accounts Receivable Accounts Receivable Account Receivables 75

Nanonets

JUNE 17, 2023

Account reconciliation is a critical process in accounting, which ensures that financial records are accurate and consistent. This article will provide an in-depth understanding of account reconciliation, its benefits, and how businesses can leverage technology to automate the process. What is Account Reconciliation?

Account Reconciliation 52

Account Reconciliation General Ledger Accounting Accounting 52

Accounting Tools

JUNE 19, 2023

Related Courses Bookkeeping Guidebook Corporate Cash Management How to Audit Cash Optimal Accounting for Cash What is a Cash Reconciliation? Reconcile the differences between the two columns. A cash reconciliation is the process of verifying the amount of cash in a cash register as of the close of business. Cash sales $518.00 -$3.00

Bank Reconciliation 75

Bank Reconciliation Cash Collection Reconciling Collections 75

Nanonets

JANUARY 8, 2024

this article, we will explore the process of bank reconciliation, provide an example of a bank reconciliation statement, offer tips, answer frequently asked questions (FAQs), and demonstrate how to use automation to streamline the reconciliation process. Why is it important to reconcile your bank statements?

Bank Reconciliation 52

Bank Reconciliation Deposits Reconciling Accounting 52

Accounting Tools

JULY 8, 2023

Related Courses Optimal Accounting for Payables Payables Management How is a Voucher Used in Accounting? If vouchers are used for all payables , their totals can be aggregated to determine the total amount of accounts payable outstanding. A voucher is created following the receipt of an invoice from a supplier.

Accounts Payable 75

Accounts Payable Accounts Payable Purchase Order Accruals 75

Accounting Tools

JULY 27, 2024

The deferred asset concept is not applied when a business uses the cash basis of accounting , since expenditures are recorded as expenses as soon as they are paid for under that method. Thus, these items would be charged to expense at once under the cash basis of accounting. Related Article Contingent Asset

General Ledger 75

General Ledger Reconciling Bookkeeping Accounting 75

Outsourced Bookeeping

MAY 10, 2023

The management of a restaurant’s financials is incomplete without the incorporation of the pivotal restaurant accounts payable process. Proper handling of accounts payable guarantees timely payment to suppliers and vendors, resulting in the seamless operation of a restaurant.

Accounts Payable 59

Accounts Payable Accounts Payable Outsourced Bookkeeping Accounting 59