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There are many responsibilities for being a business owner or an entrepreneur. These responsibilities consist of product advancement, employing staff, customer care and more. Even though you have different and huge responsibilities, remember that accounting is a vital process as it shows how your business operates. Here are some accounting practices to make sure you … Read moreUseful Accounting Practices for Small Businesses

Liabilities A liability is “promise” made by a business to pay its suppliers, employee or another party that offers services or products to the business. Most of the time, liability accounts will have a credit balance. Here are a few liability accounts that you would see in a standard balance sheet. Deferred Income Account According … Read moreLiabilities and Equity

Companies carry out bank reconciliation to check if their records such as general ledger, check register, and balance sheet are correct. Bank reconciliation is a process to compare the company’s recorded figures with the bank statement’s figures. We need to explain any differences, then the bank statement will be specified by the accountants that it … Read moreWhat is Bank Reconciliation?

Financial ratios are numerical comparisons of financial statement accounts. By understanding the relationships between the financial statement accounts (Also see How Balance Sheet relate to Profit and Loss?), internal business management, creditors and investors could comprehend how well the company is operating. Financial ratios are the most prevalent and typical tools in evaluating the financial … Read moreFinancial Ratio Analysis

Why choose cloud accounting over conventional accounting? Business accounting is a fundamental part of a business cycle. A qualified and great accounting professional can be a fantastic asset for your company. In the early 2000s and late 90s, an accounting software application that is desktop based was developed. Since the application uses coding reasoning, it … Read moreFive Reasons to Choose Cloud Accounting

In the past, big business organisations used to replicate each department in their distantly situated units. Now, it is not a possible alternative. It is absolutely nothing but a self-destructive method of carrying out business. This is where service providers such as accounting firms come in handy. The companies help them in monitoring and streamlining … Read moreAffordable Solutions Offered to Johor Bahru Business by Accounting Firms