In the earlier days of accounting, we use books or papers to track our accounting data. We all know where accounting starts. Yes, it started from the abacus. It is…
Category: Accounting
Key Differences Between CFO and Controller – Chief Financial Officer VS Controller
CHIEF FINANCIAL OFFICER (CFO) A chief financial officer (CFO) is a senior-level executive whose key role is to manage the financial responsibilities of a company. The primary duties of the…
Debit Memo vs Credit Memo – Key Difference
In the present business culture, the estimation of debit and credit notes is unmatched. Since each independent business turns out to be enormous instantly, it’s reasonable to understand these notes…
7 Proven Ways For Effective Cost-Cutting In Bookkeeping
BOOKKEEPING COST The business transactions(financial) is the golden factor that must be tracked by accountants. It will be the primary duty of all bookkeepers. Apart from this task, the bookkeeping process charge…
Cash Based and Accrual Accounting: The Key Difference
Some businesses may choose either cash or accrual based accounting to do their bookkeeping, generate their financial statements and file their tax returns. However, it may be beneficial for business…
How do you perform a Bank Reconciliation Process?
If you have missed it, we have already discussed the bank reconciliation statement and its importance. Now, we’ll jump out to know how to perform the bank reconciliation process. When…
Bank Reconciliation Statement and its Importance
Bank Reconciliations aren’t fun, but they shield you from a variety of pitfalls, such as overdrawing your account and being a victim of fraud, if you do them regularly. What is…
Best Accounting Software for Professional Service Firms and SMEs
The ultimate focus of accounting software is to make your life simpler by rescuing your time and money while also providing you with better perspectives at any time and from anywhere. The…
6 Common Accounting Mistakes and Tips to Avoid Them
Accounting mistakes occur sometimes due to our negligence. You can think that we can be perfect at all times. Yes, you can but the thing is we need to love…
Accounting 101 Guide for Startups and Entrepreneurs
In every business accounting is the key factor to maintain financial records. Everyone thinks that accounting is very knotty and couldn’t understand the basics of accounting. The general word of…
Difference Between Bookkeepers and Accountants
Accounting and bookkeeping are two functions that are critical for each business organization. In the least difficult of terms, bookkeeping is liable for the recording of financial transactions through accounting and is…
Accounts Payable vs Account Receivable – Complete Guide
Entrepreneurs and experts empathize the fundamental jobs in accounts payable and account receivable play in an association’s foremost concern. Accounts payable and accounts receivable are the two factors that are…
Accounts Payable vs. Accounts Receivable
Two concepts important to any business owner or business analyst are accounts receivable and accounts payable. These like-sounding accounts on the financial statements have very different meanings and understanding both…
Assets and Liabilities – Definition and Recognition Criteria
Business discussions with your company accountant will almost certainly end up involving comments about either assets or liabilities and if you’re lucky both! Assets are what the company owns and…
