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Category: Bookkeeping

Accounting 101: Accounting Basics for Beginners to Learn

Accruals are credits and debts that you’ve recorded but not yet fulfilled. These could be sales you’ve completed but not yet collected payment on or expenses you’ve made but not yet paid for. Not to…

Mastering Bookkeeping for Painters A Visual Guide

To set your accountant’s fees, you need to consider the professional services your business requires from the accountant. The type of services they offer and how frequently they offer them will determine how much to…

Account Reconciliation: Example, Types, Process, Best Practices

Using accounting software like QuickBooks will automatically import transactions from the bank, eliminating the need for manual data entry. Below is an example of a bank reconciliation in QuickBooks; it shows a difference of £14,387.05,…