Kategori: Bookkeeping

One place to segregate duties is between the cash disbursement cycle and bank reconciliations. To prevent collusion among employees, the person who reconciles the bank account should not be involved in the cash disbursement cycle. Also, the bank should mail the statement directly to the person who reconciles the bank account each month. Sending the…

We also know that both functions only work when done by experienced, skilled, and diligent staff. And we also understand that both procedures can be expensive to do in-house. But if we told you there was another way than having a bookkeeper and accountant on your team. It’s called outsourcing, and it’s been saving businesses…

For a reasonable measure, take an average of the past three months of POs for the SKU item you want to set a reorder point for. To accurately calculate reorder points, you’ll need to have strong records on sales volume and trends over a certain time period. As you build this body of data, you…

Watch this on-demand webinar and pick up best practice tips to onboard your team effectively, document your processes and build a strong culture across your team. High-end infrastructure including power and internet redundancy provide added safety and business continuity. Gain access to world-class industry training through Ab² Institute of Accounting. A deep understanding of the…

A suspense account is an essential tool in the accounting process, designed to handle transactions with uncertainties or discrepancies. By temporarily holding these transactions, suspense accounts ensure that all financial activities are recorded accurately and transparently. Proper management and regular review of suspense accounts are crucial for maintaining accurate financial records and facilitating smooth audits.…

Therefore, learning about income summaries and other accounting tools in business is imperative. To complete the income summary account, the last step to preparing it must be one column for credit and another for debit. The credit side will be the company’s total income, and the debit side is the company’s total expenditure. Once all…

These analytics help you to drill down to areas that require improvement and drive strategic actions for growth. Things start out at the Dashboard, which is just that; the area that lets you move into the other sections of the site and from which you can manage the overall way it ticks. The layout is,…

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If you fail the first three attempts, you’ll be locked out for 60 days. If you’re ready to take the exam, go to the Certification hub and then click the Take exam button. If you’ve already started the exam and resume later, you should see a green Resume exam button, as shown below. Earn badges…

After you’ve figured out the ideal amount to keep in your checking account, explore these options as places for earning high rates of return on your excess cash. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.…