Xero

MAY 16, 2023

If you’re not registered for auto super, it’s not too late – read our support article on how to register for automatic superannuation payments. Reconcile your payroll accounts After processing all pay runs for the financial year, it’s important to forensically check the accuracy of your reporting. Looking for more information?

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XERO Payroll General Ledger Reconciling 55

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.

Payroll 246

Payroll General Ledger XERO Reconciling 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.

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Reconciling General Ledger Bank Reconciliation Account Reconciliation 40

Xero

JANUARY 12, 2023

With these plans, practice staff are in control of the accounts but may grant clients access to view data and reconcile transactions. Our support strategy is content-led, which means we try to answer your questions proactively through articles, serving up content with instant answers.

XERO 55

XERO Bookkeeping Reconciling Invoicing 55

Counto

FEBRUARY 22, 2025

Regularly Reconcile Transactions Reconciling sales data with bank statements and payment processors prevents discrepancies. Keeping track of these ensures: Accurate cash flow forecasting Identification of delayed or missing payments Better financial planning and tax compliance 5. Ready to upgrade your accounting?

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Reconciling Accounting Accounting Data Entry 52

Xero

NOVEMBER 30, 2022

You can now access Xero Central support articles without leaving Xero, by selecting the question mark icon in the navigation bar at the top of the screen. This will help you manage your tax obligations, while streamlining the process of reconciling Shopify sales with payouts. Get help within Xero — Global.

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XERO Payroll Bank Reconciliation Invoicing 246

Counto

DECEMBER 7, 2024

Not Reconciling Accounts Payable and Receivable Why This Happens: In the rush of running a business, SMEs in Singapore often overlook regular reconciliation, leading to discrepancies that can affect cash flow. Solution: Regularly reconcile your accounts payable and receivable to avoid surprises and maintain accurate financial reports.

Financial Statements 52

Financial Statements Reconciling Accounts Payable Accounts Payable 52

AvidXchange

DECEMBER 20, 2024

Simplified Reconciliation Automated systems can provide timely reporting and visibility into supplier payments, making it easier to reconcile accounts during tax season. This can include reading up on the latest tax policy changes to ensure a smooth process for your business.

AP 52

AP Data Entry Accounts Payable Accounts Payable 52

Counto

MARCH 24, 2025

Professional accounting services: Keep your books current and reconciled Identify tax-deductible expenses Calculate your estimated chargeable income accurately This reduces the risk of errors or underreporting, which can trigger IRAS reviews or audits. Ready to upgrade your accounting?

Corporation Tax 52

Corporation Tax Accounting Accounting Reconciling 52

Counto

MARCH 23, 2025

Bookkeeping Typically charged monthly or quarterly, bookkeeping services involve recording daily transactions, reconciling bank statements, and maintaining ledgers. Types of Accounting Services and Their Cost Factors The cost of accounting services largely depends on what you need from basic bookkeeping to comprehensive financial management.

Bookkeeping 52

Bookkeeping Accounting Accounting Payroll 52

Gaviti

JANUARY 20, 2025

This article dives into the intricacies of the matching principle and explores best practices for integrating it with A/R automation tools for optimal financial accuracy. Make better credit decisions, lower DSO, and reconcile payments with near perfection. Schedule a demo to learn more.

AR 52

AR Financial Statements Invoicing Collections 52

Counto

FEBRUARY 19, 2025

Reconcile accounts promptly to identify discrepancies. Regularly update passwords and limit access to sensitive payment data. Monitor Bank Transactions Regularly Review bank statements frequently to detect unauthorised payments. Set up alerts for large or unusual transactions. Automate your financial processes with our intelligent AI.

Billing 52

Billing Accounts Payable Invoicing Accounts Payable 52

Accounting Tools

FEBRUARY 8, 2024

How to Use a Cash Voucher The petty cash custodian uses the cash voucher to reconcile the petty cash fund. If they are prenumbered, then a common control is to track these numbers, to ensure that no vouchers were used but not stored in the petty cash box.

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Petty cash Reconciling Financial Statements Bookkeeping 75

Accounting Tools

AUGUST 14, 2024

When there is an ongoing search for fraudulent transactions, it may be necessary to reconcile a bank account on a daily basis, in order to obtain early warning of a problem. A reconciliation can reveal whether any checks you issued were altered or even stolen and cashed without your knowledge. Demanded by auditors.

Bank Reconciliation 75

Bank Reconciliation Deposits Reconciling Auditing 75

Accounting Tools

MAY 15, 2023

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

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Reconciling Accounts Receivable Accounts Receivable Account Receivables 75

Accounting Tools

JUNE 19, 2023

Reconcile the differences between the two columns. Related Articles Bank Reconciliation Procedure How to Reconcile a Bank Statement Reasons Why the Bank Balance Differs from the Book Balance The Bank Reconciliation Process The Purpose of a Bank Reconciliation Sign and date the form, and submit to a supervisor for review.

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Bank Reconciliation Cash Collection Reconciling Collections 75

Accounting Tools

AUGUST 23, 2023

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. Related Articles Accounts Payable Aging Report Aging Schedule How to Set Up an Accounts Payable System There is a separate check register for each checking account.

Bank Reconciliation 75

Bank Reconciliation Accounts Payable Accounts Payable Reconciling 75

Gaviti

MARCH 5, 2025

This article examines the rising threat of fraudulent activities targeting accounts receivable, the necessity of a robust fraud prevention strategy, common fraud schemes that businesses must be aware of, and actionable steps on how to prevent accounts receivable fraud in 2025.

Accounts Receivable 80

Accounts Receivable Accounts Receivable Account Receivables Accounting 80

Counto

DECEMBER 16, 2024

Ensures you stay on top of critical tasks like reconciling accounts or submitting documents for compliance. How it helps: Helps prioritise accounting and financial tasks based on urgency and importance, such as tax filing dates or financial reporting deadlines. What should I focus on first based on deadlines and importance?

Financial Reporting 52

Financial Reporting Financial Statements Bookkeeping Tax 52

Accounting Tools

MAY 19, 2023

Related Articles Basic Accounting Concepts Books of Original Entry Cleaning Up Messy Books Double Entry Accounting How to Reconcile the General Ledger The Steps in the Accounting Process Terms Similar to Ledger Account A ledger account is also known as an account.

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General Ledger Accounting Accounting Reconciling 75

Accounting Tools

JULY 8, 2023

Related Articles Accounts Payable Analysis Accounts Payable Controls How to Reconcile Accounts Payable How to Set Up an Accounts Payable System Voucher System Also, vouchers are not used in the payroll process. In the payroll process, payments are made based on an approved timesheet or timecard.

Accounts Payable 75

Accounts Payable Accounts Payable Purchase Order Accruals 75

Accounting Tools

JUNE 20, 2023

Related Articles Account Analysis Account Reconciliation Books of Original Entry Final Accounts How to Reconcile an Account The Aging of Accounts An entry reverses a transaction that was in a prior year, and which has already been zeroed out of the account. An offsetting entry was recorded prior to the entry it was intended to offset.

Accounting 75

Accounting Accounting Account Reconciliation Reconciling 75

Accounting Tools

JULY 27, 2024

To avoid this potentially large write-off, track all deferred asset items on a spreadsheet, reconcile the amounts on the spreadsheet to the account balance listed in the general ledger at the end of each reporting period, and adjust the account balance (usually with a periodic charge to expense) as necessary.

General Ledger 75

General Ledger Reconciling Bookkeeping Accounting 75

Blake Oliver

MARCH 15, 2023

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

Reconciling 52

Reconciling Accounting Accounting 52

Accounting Tools

MAY 21, 2023

Responsibilities of a Full Charge Bookkeeper The subject areas over which the full charge bookkeeper has responsibility are as follows: Record and pay accounts payable Issue invoices to and collect from customers Calculate pay and issue payments to employees Create financial statements and related financial reports Remit payroll taxes , sales taxes (..)

Bookkeeping 75

Bookkeeping Petty cash Payroll Reconciling 75

Nanonets

MAY 21, 2024

Reconciling accounts receivable involves comparing the balances in the accounts receivable ledger with supporting documentation, such as invoices, receipts, and customer payments. Reconcile Ageing Reports: Review ageing reports to identify overdue invoices and outstanding balances.

Accounts Receivable 52

Accounts Receivable Accounts Receivable Account Receivables General Ledger 52

Nanonets

JANUARY 28, 2024

Learning to reconcile with QuickBooks Online is a starting step for using QuickBooks to manage books. QuickBooks is a handy tool to help you reconcile your accounts without using any external tools.    In this article, we walk through the reconciliation process in QuickBooks, address common issues, and provide useful tips.

QuickBooks 52

QuickBooks Bank Reconciliation Reconciling Deposits 52

Accounting Tools

JUNE 20, 2023

Related Articles Accounting for Accounts Payable Clean the Vendor Master File How to Reconcile Accounts Payable How to Set Up an Accounts Payable System Scrubbing Accounts Payable The Net Method of Recording Accounts Payable These automated systems are so expensive that they are not a viable solution for smaller businesses.

Purchase Order 75

Purchase Order Accounts Payable Accounts Payable Invoicing 75

Accounting Tools

NOVEMBER 5, 2023

Dealing with Confirmation Variances If the information received from a customer varies from the receivable amount listed in the company's receivable report, the auditor usually asks the company to reconcile the difference, which the auditor can then take further action on, as necessary. Related Articles Accounts Receivable Auditing

Accounts Receivable 75

Accounts Receivable Accounts Receivable Account Receivables Accounting 75

Nanonets

MAY 21, 2024

    In this article, we shall explore the fundamentals of accounts reconciliation , discussing its importance, processes , and best practices.   Review and Approve: Validate reconciled accounts for accuracy, seeking approval from stakeholders.

Account Reconciliation 52

Account Reconciliation Reconciling Accounting Accounting 52

Nanonets

APRIL 12, 2024

This article will provide a comprehensive understanding of account reconciliation, the benefits and challenges of outsourcing this activity, and the transformative potential of automated reconciliation software.    Integrate Nanonets Reconcile financial statements in minutes Try for Free   What is Accounts Reconciliation?

Account Reconciliation 52

Account Reconciliation Reconciling General Ledger Bank Reconciliation 52

Accounting Tools

OCTOBER 9, 2023

Step 6: Reconcile Bank Accounts Conduct a bank reconciliation , and create journal entries to record all adjustments required to match the accounting records to the bank statement. Step 5: Value Inventory Conduct an ending physical inventory count, or use an alternative method to estimate the ending inventory balance.

Financial Statements 75

Financial Statements General Ledger Bank Reconciliation Invoicing 75

Nanonets

NOVEMBER 19, 2024

SuiteScript is NetSuite’s JavaScript-based scripting language, enabling developers ( by the end of this article, that'll also be you! ) 🔄 Scheduling nightly tasks to reconcile data across departments. What is SuiteScript? to create tailored solutions that align perfectly with complex business needs.

Purchase Order 52

Purchase Order Reconciling Invoicing AP 52

Nanonets

APRIL 15, 2024

Integrate Nanonets Reconcile financial statements in minutes Try for Free This article presents the importance of bank reconciliation statements and provides insights into the benefits of automation in the generation of bank reconciliation statements. Prone to Errors: Human error is inevitable when reconciling transactions manually.

Bank Reconciliation 52

Bank Reconciliation Deposits Reconciling Financial Records 52

Accounting Tools

APRIL 12, 2024

As part of the closing process, the accounting staff may engage in the following reconciliation activities: Reconcile the bank statement Reconcile balance sheet accounts to the supporting detail Reconcile inventory records to on-hand balances (if a periodic inventory system is used) Reconciliations are considered an important control activity.

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Reconciling General Ledger Account Reconciliation Bookkeeping 40

Accounting Tools

NOVEMBER 1, 2023

Reconciling a bank statement , which likely produces adjustments to the cash account. Related Articles Accountant Responsibility How to Become an Accountant The Difference Between Accountants and Bookkeepers The Different Types of Accountants Types of Accounting Functions

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General Ledger Accounting Accounting Financial Statements 75

Accounting Tools

AUGUST 6, 2023

Adjustments to general ledger accounts that have been reconciled as part of the closing process. Related Articles Accounts that are Closed at Year-End Automate the Cutoff Intercompany Eliminations The Soft Close The Virtual Close Adjustments based on issues found by the outside auditors.

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General Ledger Accruals Billing Reconciling 75