What is Double-Entry Bookkeeping in Accounting?
You can analyze the data and brainstorm strategies to control your costs. It helps you make decisions if you need to control your money or spend more towards the development of your business. How you choose to handle your finances…
Cash Accounting Definition, Example & Limitations
In some cases, the IRS may accept cash-basis accounting for a small business that does keep inventory if the business earns more than $1 million but less than $10 million. You’ll need annual gross receipts for the past three years…
Bank Reconciliation: Purpose, Example, Process
As a result, the bank statement balance will be lower than the cash book balance, so the difference will need to be adjusted in your cash book before preparing the bank reconciliation statement. Interest is automatically deposited into a bank…
