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Main accounting reports Bookkeeping and accounting are meant to fulfill various needs of the users of the information they generate. Therefore, it should contain data on the financial and economic activities, as well as on the current state of the entity..

Let’s start by defining the word disbursement. What does it mean? It is a process of giving out money or funds from some account. This word is generally used in finance and business and can be applied in at least several..

Bookkeeping requires skills, experience, and even the knowledge of specific software used for accounting. Accounting requires a lot of responsibility, but it provides managers with insight into how the business is performing. Check out what are the peculiarities of bookkeeping in..

Businesses sometimes seek the help of independent contractors. Hiring a permanent employee can be expensive. In some cases, it isn’t necessary to have an occupation in the company if the job isn’t permanent. In such cases, using the services of an..

Bookkeeping and accounting are two very important parts of having and leading a business. Whether you have a big enterprise or a small developing business, accounting helps in achieving goals. But accounting and bookkeeping are two rather tedious jobs and they..

Many of us have heard about the concept of “liquidity” and might even have some idea what it means. Liquidity is the ability to pay obligations in full and on time. The most common indicators are Net Working Capital (NWC) and..

Bookkeeping is one of the most important aspects of controlling your business. The process involves the proper recording of all the transactions made by a company. It’s also important to store the data properly as in some states, for example, in..

A tax liability might sound very familiar, yet confusing. However, you should not get scared. Simply put, it is the amount of taxes you would need to pay to the IRS. It is the total debt you owe to the IRS...

Meaning An invoice is a document that a seller creates and then sends to the buyer. It relates to a transaction that already took place or will take place and lists the products or services the buyer receives, quantities, along with..