Being a small business owner, you typically divvy up your time in every facet of your business. Payroll is often an overlooked priority, and busy business owners don’t always have the time to do it. This leads many to the question — should a business outsource payroll? You can rest assured that we will work closely with […]
You record transactions as you pay bills and make deposits into your company account. It only works if your company is relatively small with a low volume of transactions. Essentially, they lay the financial foundation on which all your financial reports are generated. It would be best to have a trustworthy financial foundation to have […]
And fittingly, there are two entries in the history books for who documented the double-entry system. But most regard Luca Pacioli as the father of bookkeeping, for his 1494 book Review of Arithmetic, Geometry, Ratio and Proportion. With NetSuite, you go live in a predictable timeframe — smart, stepped implementations begin with sales and span …
Bills of exchange in banking are defined as a type of negotiable instrument whereby a written unconditional order created by a certain individual is transferred to another. This could involve up to three parties including a drawer, a payee, and a drawee. The main difference between a bill and a cheque is that a Bill […]
Bookkeeping is the process of keeping track of every financial transaction made by a business firm from the opening of the firm to the closing of the firm. Depending on the type of accounting system used by the business, each financial transaction is recorded based on supporting documentation. That documentation may be a receipt, an […]
Balance Brought Down (Bal b/d) is the excess monetary amount realized by subtracting the smaller CR totals from the bigger DR totals of a particular ledger account. Hence Debit balance Or it is the excess monetary amount realized by subtracting the smaller DR totals from the bigger CR totals of a particular ledger account. It […]