How do I understand bookkeeping records? The simplest way is to participate in an introductory accounting class. You have to understand the very basics of accounting principles to understand it. Every financial transaction should always be balanced (every transaction will always have a debit and credit). We have to understand the […]
Use of accounting ratios in business You now know why bookkeeping is essential. It can save you money, time, and a headache. If you need to implement a bookkeeping process, consider hiring a professional to help. Accounting and bookkeeping can be complicated and convoluted. Even classifying a single transaction can be […]
Using technology for Bookkeeping The existence of a long-term method of creating a workbook by hand disappeared, and started making a spreadsheet for budgets, cash flow, and various other accounting functions. The introduction of spreadsheets and computer accounting packages changed everything for the better. The accountants rationalize the spreadsheet to contain […]
Financial Reporting to the charity commission To understand what you need to do for your charity, first check: whether or not your charity is also a company or charitable incorporated organization. Decide depending on income for the current financial year, the value of assets, and whether required to register as a […]