Patriot Software

OCTOBER 28, 2022

When you run a small business, one error in your accounting books can result in inaccurate financial statements, poor cash flow management, and even an IRS audit. To make sure your records are accurate, familiarize yourself with account reconciliation. What is account reconciliation?

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Account accountant accounted accounting books 52

Snyder

JANUARY 3, 2023

It’s mostly based on accurately recording all the financial transactions in your books, hence bookkeeping. You can think of it as the general financial administration of your business. What is accounting? Basic terms for small business accounting and bookkeeping. Balance sheet statement.

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accounting basics basic accounting bookkeeping Account 52

Accounting Seed

NOVEMBER 23, 2022

You debit the $12,500 to AR and credit the same amount to your sales account. This is known as balancing your accounts/books. You recognize this in your accounting with a “bad debt” entry. What Is Accounts Receivable Automation? When the customer pays, you credit $12,500 to AR and debit cash.

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Account accountant accounted accrual accounting 52