Learn what contra accounts are, how they serve a useful purpose for bookkeepers, and how easy they are to set up.
QuickBooks Online Accountant Whether you’re venturing into bookkeeping for your own interests, or you’re starting a new position with a company to track and manage their finances, having a solid understanding of bookkeeping is fundamental. Some online bookkeeping courses are free, while some req...
as this will create a discrepancy between the loan balance shown in Note Payable on your books in QuickBooks and that in the Loan Manager module. To make an installment payment on the loan, always enter Loan Manager, and in the open window, select "Set Up Payment". ...
You may want to create a dedicated accounts receivable ledger highlighting your unpaid invoices and the total amount due. A great way to manage your outstanding payments is to use accounting software, such as QuickBooks or Xero, that tracks them for you. You’ll also be able to create an ...
In accounting, a general ledger is a complete record of how a company spends and uses its resources in order to conduct business. The debit column, on the left, records money coming in, and the credit column on the right records money going out. When the books are balanced, the nu...
Integrates with QuickBooks, Xero, Sage, and more How to manage FX risk (+ Tools) The best way to manage any type of risk, whether operational, cybersecurity-related, or financial, is to take a comprehensive approach from all angles. There isn’t one currency protection strategy for your bu...
Step 2: Data Entry and General Ledger Coding Once the AP staff verifies that the vendor invoice contains all the correct information, they need to enter the data manually or using an automation tool and code it for accounting purposes. General Ledger Coding refers to a coding system that makes...
To help businesses streamline their bank reconciliation process, Airwallex offers an automated expense management solution that seamlessly integrates with accounting software like Xero and Quickbooks. This allows businesses to reconcile their bank accounts more quickly and efficiently, enabling finance teams ...
Many businesses use QuickBooks, but what is QuickBooks? And what can you use QuickBooks for? Read on to find out.
Blockchain technology is a distributed ledger that enables accounting records, financial transactions, and data to be shared across a network of computers. Essentially, it allows secure and transparent transactions to occur without the need for a single organisation or entity to be in control, reduci...