One of the biggest shifts that has occurred in the global job market over the past decade has been the rise of freelancing. Not only is it more cost-effective for a lot of employers to hire freelancers remotely via the Internet but it also provides them with the utility to make use of services of freelancers from …
We pay for the goods and services we receive in a variety of ways. Aside from paying merchants directly in cash, we also deal with banks and payment processors. What you don’t know, however, is that these merchants may be categorized by these financial entities as high risk merchants. Here is all you need to …
If you are familiar with the basics of accounting, or if you are running a business, you probably have an idea of what ledgers and t-account ledgers are. For someone who does not have an accounting background, this may seem overwhelming, if not utterly daunting. However, for business, this is very important, so it is …
Intuit QuickBooks is a famous accounting software used by small, medium size and even large organizations around the world. QuickBooks has famous desktop apps for Windows and Mac, but perhaps their most exclusive application is the one that works from the cloud; i.e. QuickBooks Online (www.quickbooksonline.com). In what is to follow, we will provide you …
Companies have opening day balance sheets to keep track of various aspects of their finances such as assets, liabilities, and owner’s equity. It is called a balance sheet because your assets must be equal to your liabilities and owner’s equity, maintaining balance. This can be tricky when you don’t have much of an accounting background, …
Keeping track and managing your accounts receivable is important in ensuring a liquid cash flow. One of the main aspects of accounts receivable management is invoice aging reporting. Creating Invoice Aging Reports allow you to determine where your accounts receivable your income are coming from and who or what are your best customers. Invoice Aging Reports …
Shareholder equity comes from the amount of money originally invested in the company, any other additional investments made afterwards, and earnings accumulated during business operations over time. It is a common accounting and business procedure to create shareholder’s equity report as part of your company’s regular financial reports.
In business, particularly in accounting, a ledger is important in keeping financial transactions classified and well-documented. A ledger shows detailed financial information regarding debtors, creditors, assets, incomes, and expenses.
A profit projection is a forecast of how much money your company can bring in by selling goods or services and how much profit you will make from these sales. A projection allows your business an outlook from which to draft your plans and map out your cash flow for the next years.
Accounting tasks often require the use of applications like MS Excel, MS Access, Intuit QuickBooks and even PowerPoint presentations containing accounting data. However, the use of these applications can appear inadequate and too complex for a small enterprise. LiteAccounting is a web service that makes accounting tasks easier. It allows creating and sending professional invoices, …
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