Accounting. Online Accounting Help. Online Accounting. Online Accounting System. History of Accounting. General Accounting

Basic Bank Services

This first section explains basic bank services. We include the bank account, bank deposits, and cheques. Each of these services contributes to either or both the con­trol or safeguarding of cash.

Bank Account

A bank account is a record set up by a bank for a customer, permitting this customer to deposit money for safeguarding and cheque withdrawals. (more…)

Internal Auditor

You are an internal auditor for a company. You are currently making surprise counts of three $200 petty cash funds. You arrive at the office of one of the petty cashiers while she is on the telephone. You explain the purpose of your visit, and the petty cashier asks politely that you come back after lunch so that she can finish the business she’s conducting by long distance. (more…)

Recording Prepaid Expenses in Expense Accounts.

We explained that prepaid expenses are assets when they are purchased and are recorded with debits to asset accounts. Adjusting entries transfer the costs that expire to expense accounts at the end of an accounting period. (more…)

Statement of Owner’s Equity.

The second report in Exhibit 2.11 is the statement of owner’s equity for Finlay Interiors. Its heading lists the month as January 2001 because this statement describes events that happened during that month. The beginning balance of equity is measured as of the start of business on January Lit is zero because Finlay Interiors did not exist before then. (more…)

9 Strategies for Writing Accounts Payable Procedures.

The white flag is just a nose away…toward the Million dollar prize in cash savings for your business…

So far, in Inventory and Accounts Receivable, we’ve found $250,000 each in cash savings. Then we found another 250K in Sales and Marketing. And so, now, Accounts Payable is the final process within the Cash to Cash Cycle – and also the final $250,000. (more…)

3 Essential Tools for Starting and Maintaining a Small Business

We believe that there are 3 factors that drive the success of small businesses.

1) Acquiring start-up capital .
2) Finding customers .
3) Accounting for, budgeting and controlling sales and expenses.

The following resources will help your small business achieve these success factors.

Acquiring Start-Up Capital.

An adequate supply of capital is essential as many profitable businesses fail because they don’t have enough cash to pay their employees and suppliers. (more…)

7 Things to Consider Before Buying Small Business Accounting Software.

The world of small business accounting software can be a minefield for any business owner. However choosing the right package is one of the most critical business decisions you will make.Here  are the seven things you must consider before making a purchase that will help you achieve your businesses goals.

1. Scalability.

Businesses change over time so it’s critical that the small business accounting software you choose can change too. Some things that often change are the number of products and services offered and the number of employees. (more…)

Accounting Education.

Do You Need Accounting Software For Your Small Business?

If you’re anything like me then you dislike with a vengeance doing your accounts and taxes.

So how can you make this process easier, less painful and cut your accountancy fees?

Well buying an accounting software package is one way.

First of all you need to decide whether you are going to keep your accounting records manually, that is using pen and paper, or whether you are going to computerize the process. (more…)