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

Xero

MAY 13, 2024

Reconcile your payroll accounts After processing all pay runs for the financial year, it’s important to forensically check the accuracy of your reporting. One way to do this easily is by generating the Payroll Activity Summary report and comparing it with the General Ledger report.

XERO 248

XERO Payroll General Ledger Reconciling 248

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

Xero

MAY 16, 2023

Reconcile your payroll accounts After processing all pay runs for the financial year, it’s important to forensically check the accuracy of your reporting. One way to do this easily is by generating the Payroll Activity Summary report and comparing it with the General Ledger report.

XERO 55

XERO Payroll General Ledger Reconciling 55

Jetpack Workflow

DECEMBER 4, 2024

There are two main schools of thought regarding artificial intelligence (AI) among accountants: those who believe AI might replace their jobs and others who are excited about how much more productive and effective it can help their firm become.

General Ledger 52

General Ledger Accounting Accounting Auditing 52

Accounting Tools

SEPTEMBER 10, 2023

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is a General Ledger? A general ledger is the master set of accounts that summarize all transactions occurring within an entity. There may be a subsidiary set of ledgers that summarize into the general ledger.

General Ledger 40

General Ledger Financial Statements Record Keeping Bookkeeping 40

Accounting Tools

JULY 16, 2023

Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is the General Ledger? A general ledger is the master set of accounts that summarize all transactions occurring within an entity.

General Ledger 40

General Ledger Bookkeeping Reconciling Financial Statements 40

Accounting Tools

OCTOBER 22, 2023

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook A general ledger account is a record in which is recorded a specific type of transaction. The ending balances in these accounts are then aggregated and reported in the balance sheet and income statement.

General Ledger 40

General Ledger Accounting Accounting Accounts Payable 40

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

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

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

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

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

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

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

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

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

Accounting Tools

APRIL 3, 2023

Related Courses Bookkeeping Guidebook Corporate Cash Management How to Audit Cash Optimal Accounting for Cash A petty cash reconciliation is a formal review of petty cash records. Also, since most petty cash custodians are not trained as accountants, they may incorrectly record disbursements.

Petty cash 40

Petty cash Reconciling General Ledger Auditing 40

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. They are as follows: Avoid initial recordation.

General Ledger 75

General Ledger Reconciling Bookkeeping Accounting 75

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? They typically test the last few receiving and shipping transactions prior to the physical count, as well as transactions immediately following it, to see if you are properly accounting for them.

Auditing 75

Auditing General Ledger Reconciling Invoicing 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 Bank Reconciliation 52

Nanonets

JUNE 21, 2023

In the world of finance and accounting, the process of reconciliation plays a vital role in ensuring accurate and transparent financial records. The aim is to reconcile the data and ensure that transactions match supporting documents across different sources. What are the steps in the Process of Reconciliation?

General Ledger 52

General Ledger Reconciling Financial Records Account Reconciliation 52

Nanonets

APRIL 12, 2024

Bank Reconciliation Vs. Book Reconciliation In accounting and financial management, we encounter the terms "Book Reconciliation" and " Bank Reconciliation " These terms are often used interchangeably, leading to ambiguity regarding their meanings. What Is Book Reconciliation?

Bank Reconciliation 52

Bank Reconciliation General Ledger Reconciling Deposits 52

Accounting Tools

OCTOBER 14, 2023

Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is a Subsidiary Account? A subsidiary account is an account that is kept within a subsidiary ledger , which in turn summarizes into a control account in the general ledger.

General Ledger 40

General Ledger Accounting Accounting Accounts Payable 40

Nanonets

JANUARY 31, 2024

Month-end close is a widely accepted accounting standard that is aimed at keeping an accurate set of financial records and detecting errors/fraud. It involves recording, reviewing, and reconciling records at the end of every month. How to do monthly account reconciliation? Here is how you can do monthly reconciliation.

General Ledger 52

General Ledger Bank Reconciliation Reconciling Deposits 52

Accounting Tools

SEPTEMBER 28, 2023

Related Courses Payables Management What is the Accounts Payable Ledger? An accounts payable ledger contains the detail for all invoices received from suppliers. The ledger tracks the specific payable information for each invoice, which includes the invoice number, invoice date, supplier name, and amount paid.

Accounts Payable 40

Accounts Payable Accounts Payable General Ledger Accounting 40

Accounting Tools

OCTOBER 9, 2023

Related Courses Closing the Books The Soft Close The Year-End Close How to Prepare Financial Statements The preparation of financial statements involves the process of aggregating accounting information into a standardized set of financials. Step 7: Post Account Balances Post all subsidiary ledger balances to the general ledger.

Financial Statements 75

Financial Statements General Ledger Bank Reconciliation Invoicing 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? 

Account Reconciliation 52

Account Reconciliation Bank Reconciliation Reconciling Accounting 52

Nanonets

JUNE 14, 2024

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. Finance teams can also follow specific templates designed to reconcile their balance sheets manually. What is Balance Sheet Reconciliation?

General Ledger 52

General Ledger Reconciling Deposits Financial Statements 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

Nanonets

JUNE 24, 2024

Credit card reconciliation is the process of ensuring that the credit card transactions match the internal general ledger. It involves verifying the expenses recorded by the company's accounting system align with the statements provided by the credit card issuer. What is Credit Card Reconciliation?

General Ledger 52

General Ledger Reconciling Data Entry Invoicing 52

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

Nanonets

APRIL 17, 2024

Introduction to Bank Reconciliation Journal Entries Bank reconciliation is an important process in accounting that ensures the accuracy and integrity of a company's financial records. Integrate Nanonets Reconcile financial statements in minutes Try for Free What is Journal Entry in accounting?

Bank Reconciliation 52

Bank Reconciliation General Ledger Deposits Reconciling 52

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

Nanonets

NOVEMBER 30, 2023

Companies that establish accounts payable best practices increase the visibility of information, reduce their invoice processing time, save money, strengthen internal controls and cash flow management, reduce fraud and errors, and improve vendor relationships. Accounts payable best practices are a subset of accounting best practices.

Accounts Payable 52

Accounts Payable Accounts Payable Purchase Order AP 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. Tax return preparation won’t begin until the new year.

General Ledger 52

General Ledger Financial Statements Accounting Accounting 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