LedgerDocs
JULY 6, 2023
We have compiled a checklist of information to share with your bookkeeper: Business Documents: Business licenses and permits Employer Identification Number (EIN) Articles of Incorporation or Organization Operating Agreement or Bylaws (if applicable) Any relevant registrations or certifications Financial Statements: Balance Sheet Income Statement Cash (..)
Accounting Tools
JULY 18, 2023
When an account payable is paid, debit accounts payable and credit cash. Payroll entry. When recognizing payroll expenses , debit the wages expense and payroll tax expense accounts, and credit the cash account. Petty cash entry. Example Asset Journal Entries Cash reconciliation entry.
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Accounting Tools
MAY 12, 2024
There are several ancillary activities, such as the use of petty cash or procurement cards for smaller purchases. Payroll Cycle In the payroll cycle, a company records the time of its employees, verifies hours and overtime worked, calculates gross pay , deducts taxes and other withholdings, and issues paychecks to employees.
Accounting Tools
MAY 21, 2023
For example, a billing clerk, payables clerk, or payroll clerk may report to the bookkeeper. The position can be assisted by an outside CPA who advises on how to record certain of the more complicated business transactions. The full charge bookkeeper may supervise various accounting clerks.
Accounting Tools
FEBRUARY 3, 2024
Cash disbursements are usually made through the accounts payable system, but funds can also be disbursed through the payroll system and through petty cash. Payments made through the payroll system are intended solely for compensation disbursements to employees.
Accounting Tools
JUNE 8, 2024
Bookkeeper Principal Accountabilities Purchase supplies and equipment as authorized by management Monitor office supply levels and reorder as necessary Tag and monitor fixed assets Pay supplier invoices in a timely manner Take all reasonable discounts on supplier invoices Pay any debt as it comes due for payment Monitor debt levels and compliance with (..)
Accounting Tools
APRIL 16, 2023
Doing this periodically keeps the number of accounts down to a manageable level.
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