How to reconcile your Bank Accounts

How to reconcile your bank accounts When you enter transactions into your QuickBooks Online file, such as expenses, making payments against bills, deposits, and payments against your customer invoices, each of the transactions need to be checked and matched to bank records. This process is called reconciling. This should be done for all your bank accounts and credit card accounts that are linked to your QuickBooks Online file on a monthly basis. The transactions in QuickBooks Online should mirror your business bank account. This is a significant part of the process of bookkeeping. If you do not take the time to reconcile correctly you may find that you have missed… Read More

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Bookkeeping Adds Value!

Why Bookkeeping is Essential for Your Business Bookkeeping policies play a key role in organizing economic life. Be it the public sector or a private company, every activity is assessed and evaluated around its costs, benefits, risks and rewards. Bookkeeping is thus regarded as a communicative discipline: the numbers as such are important means of conveying information to stakeholders, regulators and consumers. Moreover, bookkeeping enables reporting and assessment of performance, providing clear visibility to see how well you are performing. Bookkeeping’s Usefulness for Managers Through its scope of transparency and visibility, bookkeeping figures produce as well as limit subjectivity. Be it on an individual level or from a managerial perspective,… Read More

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The future of Bookkeeping

Like any business, bookkeeping needs to adapt to a changing digital landscape. Technological advances are frequent and bookkeepers must adapt in order to be successful. Back in the day, the introduction of personal computers and digital data would have been life changing. Now, we’re moving from desktops to cloud storage. Software is becoming increasingly mobile optimised, with many apps aimed at business owners. More than ever, we have constant access to our business and data. New tech forces us to change the way we think and act in our work. The digital age is paperless, borderless, and connected. Long distance video communication is possible, breaking news is instant, and finances… Read More

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