Archivos de categorías:Bookkeeping

Business owners and entrepreneurs, this is your compass for navigating business performance and fine-tuning your strategies. And if you’re a manager, mastering cash flow statements can elevate your budget management skills, deepen your connections with leadership, and expand your role within the company. A cash flow statement is a financial statement that shows the cash …

Continuar leyendo “Statement of Cash Flows: Free Template & Examples”

For business owners without a bookkeeping or accounting background, the prospect can be overwhelming. Although Patriot isn’t loaded with tons of automations, such as Xero, you’ll still speed up your accounting processes while using the software, since it’s so easy to use and streamlines tedious accounting tasks. Patriot Accounting is priced at $20 – $30/month, …

Continuar leyendo “Celebrate Big Wins for National Small Business Week”

The equity section gives you the net worth of your business, which is the value of all your physical and non-physical assets. Moving money from one account to another is like moving a five dollar bill from one pocket to another. You’re not actually making or losing any money—it’s just in a new place. For …

Continuar leyendo “Small business accounting & bookkeeping tips”

The December electricity should be recorded as of December 31 with an accrual adjusting entry that debits Electricity Expense and credits a liability account such as Accrued Expenses Payable. Companies typically use accrual accounting when they want to accurately represent their financial performance over a period, especially when revenues and expenses don’t align with cash …

Continuar leyendo “Accrual vs Deferral Accounting in Financial Reporting”

Looking ahead, the landscape of tech accounting is poised for further accounting for tech companies evolution. Emerging trends like artificial intelligence, machine learning, and blockchain technology are set to revolutionize financial operations. These innovations promise enhanced accuracy, security, and efficiency, providing tech companies with valuable insights and competitive advantages. Staying current with these trends and …

Continuar leyendo “Accounting GAAP: Why digital companies struggle with reporting standards”