The accounting equation helps to assess whether the business transactions carried out by the company are being accurately reflected in its books and accounts. When the total assets of a business increase, then its total liabilities or owner’s equity also increase. The equation is generally written with liabilities appearing before owner’s equity because creditors usually …
2 4: The Basic Accounting Equation Business LibreTexts Read More »
These may consist of the purchase or sale of goods, loans made to merchants or received from customers, and payments related to acquisitions are included in this section. Investing activities are one of the most important line items reported on a business’s cash flow statement. They can give you insights into how a business might …
Cash Flow From Investing Activities Explained: Types and Examples Read More »
If you see a balance in Undeposited Funds on your balance sheet, you need to investigate. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. Here is a list …
Xero, for example, lets you give your clients real-time access to their documents, and you can both collaborate on a file without having to be in the same zip code, let alone in the same room at the same time. Ideally, you want a working environment that is free of distractions, and that lets you …
What Does a Virtual Accountant Do For a Small Business? Read More »
Over the last 10 years, our team has run the finance departments for thousands of small businesses. Whether you are VAT-registered or not, we have designed all our reports and transactions to accommodate both smartbooks tax-inclusive and tax-exclusive scenarios. Having this information readily available gives you more time to focus on growing your business. Best …
Get Started with Outsourced Bookkeeping, Accounting, Payroll, HR & Tax Read More »
Every financial plan comprises several core components that, together, provide a holistic view of a business’s financial health and direction. These include setting clear objectives, estimating costs, preparing financial statements, and considering sources of financing. Business credit cards represent another flexible way to access financing and establish business credit. This type of funding may be …
Creating a Small Business Financial Plan Overview of the Steps Read More »
You’ll also notice that when you click on the deposit, it expands and you can choose to edit. This is the convenience of this special account I know you’ll learn to love. It’s good to periodically check your Undeposited Funds account and clear out any payments waiting to be moved. Here’s how to put payments …
Whats the Undeposited Funds account in QuickBooks Online? Read More »
These errors would relate to issues between what a vendor is charging you and the inventory, services, or supplies that you have received. Reconciliation then lets those managing the process ensure that the figures are correct and in agreement. And, for some types of accounts, like trust accounts, there may be specific frequency requirements that …
What is Account Reconciliation? Definition and Process Read More »
They also need to be aware of data security issues that could arise during the onboarding when they gather employee data. Payroll outsourcing services streamline your payroll processing system. Rather than an in-house payroll or HR professional, team manager, or small business owner handling payroll themselves, a third party takes care of the logistics. Outsourcing …
Outsourcing Payroll Top Reasons to Outsource Your Payroll Read More »
If you’re trying to narrow down and focus on the metrics that really make a difference, you would be remiss if net cash flow didn’t make it onto your list. If you want to maximise the success of your business, cash flow analysis and forecasting should be at the forefront of your agenda. A cash …
What is net cash flow and why does it matter to real estate investors? Read More »
