Less Accounting

DECEMBER 1, 2023

Wrap 2023 Up in a Bow: Here's Your Year-End Accounting Checklist As you wrap up gifts for loved ones, you might be considering what else needs to be done to wrap up your business for the year. This year-end accounting checklist can help you confidently cruise into the holiday season, leaving you ready to make a splash in the new year.

Accounting 105

Accounting Accounting Bookkeeping Budgeting 105

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

DECEMBER 19, 2023

What are Financial Statement Footnotes? Financial statement footnotes are explanatory and supplemental notes that accompany a firm’s financial statements. The exact nature of these footnotes varies, depending upon the accounting framework used to construct the financial statements (such as GAAP or IFRS ).

Financial Statements 40

Financial Statements Reconciling Auditing Accounting 40

Less Accounting

NOVEMBER 18, 2024

Proper bookkeeping ensures that all deductible expenses are accounted for, potentially saving the business a substantial amount of money. Streamlined Tax Filing Tax season is stressful enough without the added burden of disorganized financial records. How Less Accounting Can Help This is where Less Accounting steps in.

Bookkeeping 59

Bookkeeping Tax Financial Records Reconciling 59

Intuit

JUNE 23, 2023

Table of Contents What Is an Accountant, and What Do They Do? Careers in Accounting Work Environment Job Outlook Accounting Certification Interested in Tax or Bookkeeping? But what exactly does an accountant do? What types of accounting careers are available, and how is the work environment?

Accounting 130

Accounting Accounting Bookkeeping QuickBooks 130

Nanonets

JUNE 27, 2024

Why is it Important to Reconcile your Bank Account? Reconciliation is a crucial accounting process that ensures the accuracy of the financial close process. It ensures that the money credited or debited in your bank account matches the money being expended or made.

Reconciling 40

Reconciling Bank Reconciliation Deposits Accounting 40

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

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

Counto

DECEMBER 16, 2024

How SMEs in Singapore Can Use ChatGPT for Everyday Work Tasks Managing an SME in Singapore involves juggling a multitude of tasks, from keeping track of financials to ensuring regulatory compliance. Whether youre handling accounting services , managing your team, or overseeing operations, time is always of the essence.

Financial Reporting 52

Financial Reporting Financial Statements Bookkeeping Tax 52

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

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

MineralTree

OCTOBER 5, 2023

Read on to learn the benefits of streamlining and optimizing the accounts payable month-end close process, including information on best practices and the role of automation in achieving operational excellence. As part of the process, the AP team takes steps to ensure the past month’s financial records are accurate.

AP 76

AP Reconciling Accruals Accounts Payable 76

Nanonets

JUNE 18, 2024

Introduction to Account Reconciliation Account reconciliation is the critical process of comparing your general ledger with internal and external sources. Account Reconciliation can be a fairly manual task, especially right before the monthly close. Why is Account Reconciliation so Important?

Account Reconciliation 52

Account Reconciliation General Ledger Reconciling Accounting 52

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.

Accounts Receivable 75

Accounts Receivable Accounts Receivable Account Receivables General Ledger 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

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 Accounting 52

Less Accounting

MAY 9, 2023

Accounting gets left behind while business moves forward. Open up your accounting software and assess what might be missing from there. Your chart of accounts is a list of the types of categories or accounts that you use to classify each transaction. As a small business, you want to avoid having too many accounts.

Bookkeeping 98

Bookkeeping Accruals Reconciling Accounting Software 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

Jetpack Workflow

SEPTEMBER 1, 2024

This problem is all too common for many accounting firms and teams. Review and Adjust Financial Statements At the annual close, you need to thoroughly review the financial statements prepared by your bookkeeping team against the client’s general ledger accounts.

General Ledger 52

General Ledger Financial Statements Accounting Accounting 52

Nanonets

APRIL 3, 2024

Traditional bookkeepers are professionals responsible for recording financial transactions, maintaining ledgers, and preparing financial statements manually or using basic accounting software. These professionals play a crucial role in ensuring the accuracy and integrity of a company's financial records.

Virtual Bookkeeping 74

Virtual Bookkeeping Bookkeeping Data Entry Bookkeeping Services 74

Gaviti

FEBRUARY 20, 2023

An accounts receivable balance refers to a company’s outstanding invoices that customers have not yet settled. Accountants record this uncollected income as a normal debit balance or asset. So, how can it lead to a negative accounts receivable balance? So, how can it lead to a negative accounts receivable balance?

Accounts Receivable 52

Accounts Receivable Accounts Receivable Account Receivables Reconciling 52

Jetpack Workflow

AUGUST 24, 2023

Accounting firms relying on memory alone to keep up with their clients’ accounting tasks risk overlooking essential work assignments or missing critical deadlines. Plus, we review a few daily, weekly, monthly, quarterly, and annual accounting tasks successful firm owners keep tabs on to prevent their teams from getting overwhelmed.

Reconciling 52

Reconciling Accounting Accounting Payroll 52

Accounting Tools

MAY 21, 2023

A full-charge bookkeeper is the same as a bookkeeper , except that the "full charge" part of the title designates the person as being solely responsible for accounting. The full charge bookkeeper may supervise various accounting clerks. Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is a Full Charge Bookkeeper?

Bookkeeping 75

Bookkeeping Petty cash Payroll Reconciling 75

Nanonets

JUNE 14, 2024

A balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time. Balance sheet reconciliation is a critical financial process that aligns the financial statements with external documentation such as bank statements, invoices, and general ledger entries.

General Ledger 52

General Ledger Reconciling Deposits Financial Statements 52

Nanonets

JUNE 23, 2023

Balance sheet reconciliation is a critical process in finance and accounting that ensures the accuracy and integrity of financial statements. It involves comparing and reconciling the balances of various accounts in the balance sheet with supporting documentation. How to reconcile balance sheets?

General Ledger 52

General Ledger Reconciling Financial Statements Financial Analysis 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

Stephanie Peterson

SEPTEMBER 13, 2021

By maintaining your books regularly, reviewing reports, and reconciling your accounts at the end of each month, you can avoid bookkeeping disasters. Additionally, you should check your bank account to ensure all deposits have cleared the bank. Accounting & Bookkeeping Services by Superior Virtual Bookkeeping LLC

Bookkeeping 52

Bookkeeping Reconciling Virtual Bookkeeping QuickBooks 52

Nanonets

JUNE 19, 2024

What is the Vendor Reconciliation Process in Accounts Payable Vendor reconciliation is a critical practice in accounts payable to ensure the completeness and accuracy of vendor payments. Accounts payable teams must reconcile payments regularly to avoid double-processing them.

Accounts Payable 52

Accounts Payable Accounts Payable Reconciling Accounting 52

Nanonets

JANUARY 8, 2024

Reconciliation includes matching the company’s balance sheet, income statement, bank statements, and expenses. Having an accurate set of financial statements is essential, or it can lead to complications in financial planning, tax compliance, and legal matters. Match the deposits in the two statements.

Bank Reconciliation 52

Bank Reconciliation Deposits Reconciling Accounting 52

Nanonets

APRIL 3, 2024

Guide to the Vendor Account Reconciliation Process Running a business involves collaboration with various vendors who provide different kinds of products and services. What is Vendor Reconciliation In accounts payable (AP) activities, a vendor is an individual or entity that provides goods or services to the company.

Account Reconciliation 52

Account Reconciliation Accounts Payable Accounts Payable Data Entry 52

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. It is especially necessary to create year-end adjustments when the financial statements are to be audited by the company’s auditors.

General Ledger 75

General Ledger Accruals Billing Reconciling 75

Outsourced Bookeeping

AUGUST 22, 2024

Running a successful landscaping business is all about precision—whether it’s in design, operations, or even accounting. However, while you can control many aspects of your business, bookkeeping and accounting can be particularly challenging. “But believe us, mixing them creates even bigger headaches in the long run.

Outsourced Bookkeeping 59

Outsourced Bookkeeping Bookkeeping Accounting Accounting 59

Accounting Fun

APRIL 13, 2023

"Money, Money, Money" by ABBA - Because accountants know money is their favorite thing to count, balance, and make sense of! Dancing Queen" by ABBA - When the financial statements are balanced, and you're ready to dance your way through tax season like a true queen of numbers.

Accounting 45

Accounting Accounting Reconciling Financial Statements 45

Nanonets

FEBRUARY 19, 2024

Introduction Diving into the world of accounting, reconciling accounts becomes a routine yet crucial task, especially when bank or credit card statements roll in. However, the dynamic nature of business means changes or oversights can occur, necessitating a revisit to previously reconciled accounts.

QuickBooks 52

QuickBooks Reconciling Financial Records Financial Statements 52

Accounting Fun

MAY 4, 2023

"Don't Stop Believin'" by Journey - Encouraging clients to keep the faith in their financial goals and trust in your accounting expertise. Don't Stop 'Til You Get Enough" by Michael Jackson - Because you won't stop until you've reconciled every last penny and balanced every account.

Accounting 45

Accounting Accounting Reconciling Financial Statements 45

Accounting Tools

JULY 27, 2023

Related Courses Credit and Collection Guidebook Bookkeeping Guidebook Budgeting CFO Guidebook Cost Accounting Fundamentals New Controller Guidebook Payables Management Payroll Management Project Accounting Someone wanting to enter the accounting field can choose to train for a number of possible positions.

General Ledger 40

General Ledger Accounting Accounting Financial Statements 40

Accounting Tools

JUNE 8, 2023

Related Courses Accountants' Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook How to Conduct an Audit Engagement Records Management What are Source Documents? Many source documents are also stamped to indicate an approval, or on which to write down the current date or the accounts to be used to record the underlying transaction.

Petty cash 75

Petty cash Invoicing Bookkeeping Reconciling 75