Bookkeeping

Liquidity is used to determine if you have enough cash to cover your immediate debts. Analyzing different ratios will give you both an overview and an in-depth look at the business and its fundamentals. Financial ratios link various aspects of a business together to deliver a clear and comprehensive representation of a business. A ratio […]

For this reason, most procedures for closing the books do not include a step for printing and reviewing the post-closing trial balance. Now that your adjusting entries have been completed and your adjusted trial balance debits and credits balance, you’re ready to make some closing entries in preparation for completing the post-closing trial balance. Finally, […]

A clean report is one that states that the financial statements of the company fully comply with GAAP and are free of any material misstatement. It indicates that the auditors are satisfied with the company’s financial reporting and that they comply with the governing principles and laws applicable. Imagine if an audit committee got the […]

The periodic inventory system uses businesses having few inventory items and few inventory item units sales per month such as art galleries and car dealerships. Businesses that don’t need current inventory status instead it’s enough to keep tracking inventory in period periods and can use a periodic inventory system. It works well for having a […]

The periodic inventory system uses businesses having few inventory items and few inventory item units sales per month such as art galleries and car dealerships. Businesses that don’t need current inventory status instead it’s enough to keep tracking inventory in period periods and can use a periodic inventory system. It works well for having a […]

There could be a number of relatively simple ways to increase your revenue that you’ve overlooked. For example, something as simple as offering an early payment discount to your customers could lead to a short-term cashflow injection. On the other hand, if you have a method of marketing your business that’s proven to generate results, […]