Xero

SEPTEMBER 7, 2022

None more so than you all — our valued accounting and bookkeeping partners — who have helped your clients navigate a digital acceleration and shift their business models to survive (and thrive). . the option to automatically group accounts according to their account code. Helping your clients avoid the cash flow crunch.

XERO 264

XERO Payroll General Ledger Bank Reconciliation 264

Nanonets

JULY 21, 2023

Maintaining accurate financial records is vital for any business, and the general ledger, as the central repository of financial transactions, plays a critical role in this process. Ensuring the accuracy and integrity of the general ledger requires regular reconciliation. What is general ledger reconciliation?

General Ledger 52

General Ledger Financial Reporting Reconciling Financial Records 52

Accounting Tools

JUNE 14, 2023

Related Courses Accounting for Inventory How to Audit Inventory How to Conduct an Audit Engagement What are Inventory Audit Procedures? If your company records its inventory as an asset and it undergoes an annual audit , then the auditors will be conducting an audit of your inventory.

Auditing 75

Auditing General Ledger Reconciling Invoicing 75

Accounting Tools

JUNE 12, 2023

Related Courses Bookkeeping Guidebook How to Audit Receivables New Controller Guidebook The reconciliation of accounts receivable is the process of matching the detailed amounts of unpaid customer billings to the accounts receivable total stated in the general ledger.

Reconciling 75

Reconciling Account Receivables Accounts Receivable Accounts Receivable 75

Accounting Tools

MAY 21, 2023

Related Courses How to Audit Cash How to Audit Fixed Assets How to Audit Inventory How to Audit Receivables How to Conduct an Audit Engagement What are Management Assertions? The auditors test the validity of these assertions by conducting a number of audit tests. Completeness. Occurrence.

Auditing 75

Auditing Financial Statements General Ledger Accounting 75

Accounting Tools

JUNE 12, 2023

Related Courses How to Conduct a Compilation Engagement How to Conduct a Review Engagement How to Conduct an Audit Engagement What is a Financial Statement Audit? A financial statement audit is the examination of an entity's financial statements and accompanying disclosures by an independent auditor. Accounts receivable.

Financial Statements 76

Financial Statements Auditing General Ledger Bank Reconciliation 76

Accounting Tools

MARCH 24, 2023

Related Courses How to Audit Liabilities Payables Management Before closing the books at the end of each reporting period , the accounting staff must verify that the detailed total of all accounts payable outstanding matches the payables account balance stated in the general ledger.

Reconciling 75

Reconciling Accounts Payable Accounts Payable General Ledger 75

Accounting Tools

DECEMBER 28, 2023

A trial balance is an accounting report that states the ending balance in each general ledger account. This means that it states the ending balance for each asset, liability, equity, revenue, gain, and loss account in an accounting system. They then use audit procedures to test these balances.

General Ledger 75

General Ledger Record Keeping Financial Statements Auditing 75

Nanonets

JUNE 19, 2023

Accounts payable audits play a crucial role in the financial health of businesses. This article covers why accounts payable audits are important to maintain financial health and the steps in an AP audit process. We will also cover how automation helps to streamline the AP audit procedure.

Accounts Payable 52

Accounts Payable Accounts Payable Auditing AP 52

Accounting Tools

SEPTEMBER 2, 2023

Related Courses How to Audit Receivables How to Conduct an Audit Engagement How to Audit Accounts Receivable If your company is subject to an annual audit , the auditors will review its accounts receivable in some detail. Confirm accounts receivable. Investigate reconciling items.

Account Receivables 40

Account Receivables Accounts Receivable Accounts Receivable Auditing 40

Accounting Tools

OCTOBER 4, 2023

Related Courses How to Audit Procurement Purchasing Guidebook What is a Purchases Journal? This journal is most commonly found in a manual accounting system , where it is necessary to keep high-volume purchasing transactions from overwhelming the general ledger.

General Ledger 75

General Ledger Purchase Order Accounts Payable Accounts Payable 75

Accounting Tools

MAY 14, 2023

Related Courses Bookkeeping Guidebook How to Audit Receivables New Controller Guidebook Overview of Accounts Receivable When goods or services are sold to a customer , and the customer is allowed to pay at a later date, this is known as selling on credit , and creates a liability for the customer to pay the seller.

Account Receivables 75

Account Receivables Accounts Receivable Accounts Receivable General Ledger 75

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

DECEMBER 20, 2023

What is an Accounting Entry? An accounting entry is a formal record that documents a transaction. In most cases, an accounting entry is made using the double entry bookkeeping system , which requires one to make both a debit and credit entry, and which eventually leads to the creation of a complete set of financial statements.

Accruals 75

Accruals Accounting Accounting General Ledger 75

Accounting Tools

OCTOBER 20, 2023

Related Courses Fixed Asset Accounting How to Audit Fixed Assets Accounting for the sale of land differs from the accounting for the sale of any other type of fixed asset , because there is no accumulated depreciation expense to remove from the accounting records. Why Land is Not Depreciated

General Ledger 75

General Ledger Accounting Accounting Auditing 75

Accounting Tools

SEPTEMBER 7, 2023

Related Courses Closing the Books The Soft Close The Year-End Close What is the Income Summary Account? The income summary account is a temporary account into which all income statement revenue and expense accounts are transferred at the end of an accounting period. As such, the account is not strictly necessary.

General Ledger 75

General Ledger Accounting Accounting Account Reconciliation 75

Accounting Tools

AUGUST 6, 2023

Year-end adjustments are journal entries made to various general ledger accounts at the end of the fiscal year , to create a set of books that is in compliance with the applicable accounting framework. Adjustments to general ledger accounts that have been reconciled as part of the closing process.

General Ledger 75

General Ledger Accruals Billing Reconciling 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

Nanonets

APRIL 24, 2024

Audit Bank Reconciliation Guide  Both internal and external accounting audits are essential parts of financial management as well as organizational risk management. A bank reconciliation audit is one such process that helps in identifying financial gaps or discrepancies. Looking out for a Reconciliation Software?

Bank Reconciliation 52

Bank Reconciliation Auditing Reconciling General Ledger 52

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

Accounting Tools

MAY 21, 2023

Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is a Journal Entry? A journal entry is used to record a business transaction in the accounting records of a business. The general ledger is then used to create financial statements for the business.

General Ledger 75

General Ledger Financial Statements Accruals Payroll 75

Nanonets

JUNE 18, 2024

Introduction to Account Reconciliation Account reconciliation is the critical process of comparing your general ledger with internal and external sources. Each balance should match its corresponding entry in the general ledger for any source. Why is Account Reconciliation so Important?

Account Reconciliation 52

Account Reconciliation General Ledger Reconciling Accounting 52

Billah and Associates

MAY 23, 2018

Bookkeeping vs Accounting For most people bookkeeping and accounting would seem like the same thing. They aren’t to blame really, because both bookkeeping service and accounting service are actually part of the financial cycle that a company follows. The fundamental difference bookkeeping vs accounting is the nature of the work.

Bookkeeping 52

Bookkeeping General Ledger Bookkeeping Services Financial Statements 52

Accounting Tools

APRIL 4, 2023

Related Courses Bookkeeping Guidebook Corporate Cash Management How to Audit Cash Optimal Accounting for Cash What is the Petty Cash Book? In most cases, the petty cash book is an actual ledger book, rather than a computer record. This format makes it easier to record petty cash activity in the general ledger.

Petty cash 75

Petty cash General Ledger Record Keeping Computation 75

Accounting Tools

APRIL 12, 2023

Related Courses How to Conduct a Compilation Engagement How to Conduct a Review Engagement How to Conduct an Audit Engagement What is an Audit Adjustment? An audit adjustment is a proposed correction to the general ledger that is made by a company's external auditors. If not, these adjustments must be made.

Auditing 40

Auditing General Ledger Financial Statements Accounting 40

accountingfly

APRIL 11, 2024

Top Remote Accounting Candidates This Week Looking for remote accountants? With our ‘ Always-On Recruiting ‘ program, you can access highly skilled and experienced remote accountants with no upfront cost. Sign up now to receive our full list of top accounting candidates available weekly!

General Ledger 64

General Ledger Financial Statements Accounting Accounting 64

Accounting Tools

DECEMBER 20, 2023

What is Payroll Accounting? The accounting for payroll involves all aspects of calculating and paying compensation to employees, including the payment of withholdings to third parties. Related AccountingTools Courses How to Audit Payroll Optimal Accounting for Payroll Payroll Management Step 4.

Payroll 75

Payroll Deposits Accounting Accounting 75

accountingfly

APRIL 18, 2024

Top Remote Accounting Candidates This Week Looking for remote accountants? With our ‘ Always-On Recruiting ‘ program, you can access highly skilled and experienced remote accountants with no upfront cost. Sign up now to receive the full list of top accounting candidates available weekly!

General Ledger 52

General Ledger CPA Accounting Accounting 52

Accounting Tools

APRIL 7, 2024

A liability is recorded in the general ledger , in a liability-type account that has a natural credit balance. A number of examples of liability accounts are presented in the following list, which is split into current and long-term liabilities: Examples of Current Liabilities The following are examples of current liabilities.

General Ledger 75

General Ledger Payroll Deposits Invoicing 75

IMA's Count Me

SEPTEMBER 13, 2020

Contact Jason Pierce: [link] About Jason Pierce: [link] Forensic Accounting Video, " Does my balance sheet balance?" : [link] FULL EPISODE TRANSCRIPT Adam: (00:00) Welcome back to episode 87 of Count Me In , IMA's podcast about all things affecting the accounting and finance world. You know, forensic, accounting side of things.

Auditing 40

Auditing General Ledger Accounting Accounting 40

Invoicera

NOVEMBER 14, 2024

AP & AR management: Manage your Accounts Payable and Receivable with ease; track balances, send reminders, and reduce late payments to keep your cash flow healthy. Freshbooks FreshBooks is an online accounting solution tailored for financial services, making invoicing and bookkeeping effortless. Explore it. Get A Free Trial 7.

Financial Services 52

Financial Services Invoicing Billing Financial Reporting 52

MineralTree

MARCH 30, 2023

Accounting for franchises is a complex web of responsibilities. Accounts payable (AP) automation has become a popular tool for franchises to overcome these obstacles. In this article, we will discuss the challenges associated with franchise accounting and how AP automation helps solve them.

AP 79

AP Accounting Accounting Invoicing 79

Accounting Tools

OCTOBER 22, 2024

The total of the transactions in the subledger roll up into the general ledger. For example, a subledger may contain all accounts receivable , or accounts payable , or fixed asset transactions. A summary-level entry is periodically recorded in the general ledger. Ending balance usage.

General Ledger 40

General Ledger Financial Statements Reconciling Bookkeeping 40

Accounting Tools

JULY 17, 2024

The imprest balance is the amount of cash stated in the general ledger for the petty cash account. Instead, when cash is issued to replenish a petty cash box , the debit is to the expenses for which cash was paid, while the credit is to the general cash account. This amount does not change.

Petty cash 52

Petty cash General Ledger Bookkeeping Auditing 52

Accounting Tools

APRIL 24, 2023

Related Courses Accounting for Inventory How to Audit Inventory Inventory Management The periodic and perpetual inventory systems are different methods used to track the quantity of goods on hand. Under the perpetual system, there are continual updates to the cost of goods sold account as each sale is made. Cost of goods sold.

General Ledger 75

General Ledger Record Keeping Computation Auditing 75

Nanonets

APRIL 23, 2024

A Guide to NetSuite Account Reconciliation Accurate financial records are an important part of any business’ ability to make informed decisions and also adhere to legal regulations. What Is Account Reconciliation?  Real-time reporting enables proactive decision-making and ensures financial transparency.

Account Reconciliation 52

Account Reconciliation Bank Reconciliation Reconciling Accounting 52

CapActix

MARCH 23, 2023

Introduction Accounting practices have changed over time with new technologies, evolving customer demands, and business needs. It is now much more than just bookkeeping and ledgers. Accounting firms are embracing these new trends to be in league with the new changes and better serve client demands. What is Accounting Trends?

Accounting 98

Accounting Accounting CPA Accounting Software 98