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Benefits of Outsourcing Accounting and Bookkeeping

Accurate bookkeeping and accounting are not optional for successful businesses, but hiring a full time accounting staff to keep your company’s books can be expensive.

While every business needs the financial data that accountants and bookkeepers prepare in order to fulfill regulatory obligations and make solid business decisions, incurring the cost of a full time staff to prepare that data may not be a very good business decision at all.

Outsourcing this work to a Raleigh CPA firm can mean having the expert financial services that you need anytime while enjoying significant savings.

Top Benefits you Get from Outsourcing your Read more

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Importance of hire Reliable Bookkeeping Services?

Business owners in need of reliable accounting services should ensure to hire accomplished accountants. It is quite easy to obtain bookkeeping services because there are practicing individuals as well as companies. The work demands in your accounting department will determine the kind of professional to be hired. When looking for reliable bookkeeping services Coral Springs FL accountants are obtainable online

At Reliable Bookkeeping Services, we look for long term relationships. Bookkeeping is not the most exciting task and bookkeepers also like excitement and once internal bookkeeper learns all about your business, they stop learning and that leads to boredom … Read more

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Types of Cost Accounting

Cost accounting involves the techniques for:

1. determining the costs of products, processes, projects, etc. in order to report the correct amounts on the financial statements, and
2. assisting management in making decisions and in the planning and control of an organization.
For example, cost accounting is used to compute the unit cost of a manufacturer’s products in order to report the cost of inventory on its balance sheet and the cost of goods sold on its income statement. This is achieved with techniques such as the allocation of manufacturing overhead costs and through the use of process costing, operations … Read more

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Types of Accounting

Accounting is a vast and dynamic profession and is constantly adapting itself to the specific and varying needs of its users. Over the past few decades, accountancy has branched out into different types of accounting to cater for the diversity of needs.

Financial Accounting, or financial reporting, is the process of producing information for external use usually in the form of financial statements. Financial statements reflect an entity’s past performance and current position based on a set of standards and guidelines. GAAP refers to the standard framework of guideline for financial accounting used in any given jurisdiction. This generally … Read more

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What is Bookkeeping ?

If you’re running a business, it doesn’t matter whether you’re an independent contractor or a growing company, managing accounts payable is a key part of your everyday business administration. Accounts payable is the process of tracking money owed by your business to suppliers. As your business grows, so does the complexity of your accounts payable process.

The term bookkeeping means different things to different people:

  • Some people think that bookkeeping is the same as accounting. They assume that keeping a company’s books and preparing its financial statements and tax reports are all part of bookkeeping.
  • Others see bookkeeping as
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Why do you need accounting services?

Bookkeeping is necessary in every business whether it is a small or large scale business. As a small business owner, following basic accounting principles is essential for success, record-keeping and financial analysis is key to not only monitoring your expenses, but to discovering new avenues of growth. In addition, it ensures you stay responsible for tax obligations to the government and to your employees.

Accounting closely monitors your accounts receivable to illustrate trends or behaviours in your customer base. It can also cut down on the costs you incur by pursuing late payers. Establishing a detailed budget to help discover … Read more

Steps for Uploading Bank Transactions in Quickbooks

1. Download the Bank Statements using Online Banking Website in PDF format.
2. Convert the Bank Statements from PDF to excel/ csv format using any software like Adobe
Acrobat XI.
3. Delete those transactions which are already appearing in Quickbooks and identify transactions
which are yet to be uploaded.
4. For those transactions which are yet to be uploaded, prepare a csv file containing the following
3 columns:
1) Date in format MM/DD/YY
2) Description
3) Amount: All debit amounts should be negative and all credit amounts should be
positive.
5. Go to website: qbo.intuit.com
6. Enter User ID and … Read more