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Reconciliation in Accounting: Difficulties in Reconciling the Accounts

Snyder

However, these indicators are only good when you reconcile the accounts properly. The account reconciliation process is an integral part of business, which helps to connect accounting with bank statements, records with cash, and protect the business from any discrepancies. . What is account reconciliation?

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How Do You Record Ecommerce Sales in Accounting?

xendoo

Many ecommerce owners understand the importance of making sales, but do you know how to record ecommerce sales for your accounting system? No matter if you sell products online through Amazon, Shopify, BigCommerce, Walmart, or Etsy, you’ll need an accounting system to manage finances. What is accounting for ecommerce?

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Understanding Accounts Receivable (AR): Accounting Basics You Need to Know

Snyder

However big or small your business is, you’re familiar with the notions of accounts receivable and accounts payable as integral parts of accounting. But if you’re a business owner trying to make sense of your finances, it’s good to master the basics. What is accounts receivable (AR)? Let’s dive in!

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Bookkeeping vs. Accounting: What’s the Difference Between Bookkeepers and Accountants?

Snyder

What does an accountant do? What are bookkeeper duties? Sometimes grasping the difference between bookkeeping and accounting can be tricky. Both bookkeepers and accountants work with your finances, both help make your tax reporting a smooth experience. Is an in-house accountant a necessary investment?

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Getting Paid 101: Accounts Payable and Accounts Receivable

xendoo

If you’re managing a business—and your books—you’ve probably had to learn what is accounts payable vs. accounts receivable. . Accounts payable and accounts receivable are two different sides of the same coin. Without a deep understanding of your accounts payable and receivable, you could face costly setbacks.

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How to spot accounting fraud

ThomsonReuters

When one thinks of accounting fraud, it is likely that these are some of the cases that come to mind. However, most cases of accounting fraud will not make news headlines and can happen in companies of all sizes and industries. a misrepresentation, information omission, or other misconduct ). The Enron scandal.

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10 “Dos and don’ts” in accounting automation for your business

Reckon

Accounting tasks have long earned notoriety for their slow, manual nature. All that is now set to change, as accounting is one of the areas where automation can bring the biggest benefits. Before we get into that, let’s talk about what accounting automation entails. What is accounting automation?