Bookkeeping Articles

Accounting » Bookkeeping | By Christine Harrell @ Sunday, 20th April 2008 @ 9:20 PM

Company owners are often confused by the tangled web of business and financial regulations. To simplify the complicated financial part of the business, many of them choose to protect themselves by contracting for outsourced accounting services. On the other hand, some companies are still trying to handle their own bookkeeping or hiring non professionals to tackle the job in an attempt to save time or money. However, not using a professional is one that can cost a business owners more time and m... more...

Accounting » Bookkeeping | By Art Gib @ Sunday, 30th March 2008 @ 9:10 PM

The times we live in are quite convenient in terms of communication whether you hail from a cubicle dwelling or man an oil rig in the gulf. Communication happens at the speed of a key click and the office vernacular these days typically revolves around abstract virtual talk. When someone means folder, typically they're speaking of something found on a computer hard drive rather than on a shelf. Yet we still find the need for hard copies though. And some artifacts simply can't be stored... more...

Accounting » Bookkeeping | By Michael Sack Elmaleh @ Thursday, 31st January 2008 @ 9:05 PM

The basic advantages of a computerized accounting system are efficiency and speed. In a manual system receipts and disbursements are initially recorded in registers. This can involve writing a check and then writing a description in a register or this can be done on a one-write system. Either way the transactions in the registers must be manually posted to the general ledger and then compiled into financial statements. This manual transfer of information is time consuming and subject to error (s... more...

Accounting » Bookkeeping | By Derek Both @ Wednesday, 16th January 2008 @ 10:36 AM

Customer relationship management (CRM) is an important part of any business in order to keep clients happy. It is imperative to ensure that customers are happy otherwise you will not have a business. Customer relationship management is the strategies, processes, people and technologies that are used by companies in order to successfully attract and retain customers. If this is achieved then a company can enjoy maximum corporate growth and great success. Obviously this is what any busine... more...

Accounting » Bookkeeping | By Derek Both @ Wednesday, 16th January 2008 @ 10:24 AM

Risk management for business is a very important aspect of any company. This is because it identifies and treats any risks that an organisation may face. It develops a strategy in order to tackle potential risks and prevent any failures from happening. It is impossible to predict what can happen to a company and when which is why everyone should look into risk management for business in case something does happen. An exposure to a risk could lead to disaster for any company which is why i... more...

Accounting » Bookkeeping | By Terry Cartwright @ Saturday, 12th January 2008 @ 4:59 AM

Accounting software is used by accountants to enter many complex financial transactions into the financial books of account and is almost invariably based upon double entry bookkeeping principles. A major advantage to those companies and the finance staff is the extent to which financial information contained in the database can be queried for financial control purposes. An accountant needs to not only ensure the financial records are accurate but also retrieve any part of the accounting ... more...

Accounting » Bookkeeping | By Ken Fry @ Wednesday, 9th January 2008 @ 11:04 AM

Bookkeeping services are companies that specialize in helping out other companies or individuals with their finances. Online, off-site and on-site and outsourcing bookkeeping services are some of the options that can be considered when choosing a bookkeeping service. Some bookkeeping services can be tailored designed for your business. Services Many Firms offer specialized services allowing you to spend your valuable time focusing on your business. Services include mail forwarding, p... more...

Accounting » Bookkeeping | By Derek Both @ Wednesday, 12th December 2007 @ 1:42 AM

Customer relationship management (CRM) is an important part of any business in order to keep clients happy. It is imperative to ensure that customers are happy otherwise you will not have a business. Customer relationship management is the strategies, processes, people and technologies that are used by companies in order to successfully attract and retain customers. If this is achieved then a company can enjoy maximum corporate growth and great success. Obviously this is what any busine... more...

Accounting » Bookkeeping | By Derek Both @ Wednesday, 12th December 2007 @ 1:40 AM

Risk management for business is a very important aspect of any company. This is because it identifies and treats any risks that an organisation may face. It develops a strategy in order to tackle potential risks and prevent any failures from happening. It is impossible to predict what can happen to a company and when which is why everyone should look into risk management for business in case something does happen. An exposure to a risk could lead to disaster for any company which is why i... more...

Accounting » Bookkeeping | By Terry Cartwright @ Saturday, 8th December 2007 @ 4:56 AM

Basic bookkeeping consists of recording the prime business transactions of sales, purchases and cash. The accounting documents supporting and evidencing these transactions being called prime documents which are entered into the business books by a bookkeeper. Sales Invoices A sales invoice is a prime document. In more advanced accounting systems technical terms such as sales day books, sales ledgers, debtors and credit control are important but at the basic level bookkeeping of sal... more...

Accounting » Bookkeeping | By Terry Cartwright @ Friday, 30th November 2007 @ 1:03 AM

Businesses generally make extensive use of spreadsheets both in accounting and all other business fields. Being a numerically based system of analysing information spreadsheets are used throughout every accounting function as the technique presents an ideal basis to maintain accuracy and automate the collection of financial information. Every small business needs to keep records of sales invoices and income received and purchase invoices in respect of expenses. It is not sufficient for ac... more...

Accounting » Bookkeeping | By Terry Cartwright @ Friday, 30th November 2007 @ 12:54 AM

Every small business is required to keep bookkeeping records to produce at the end of the financial year a set of accounts to show the sales income, business expenses and the net profit for tax purposes. Medium and larger businesses employ accounts clerks, bookkeepers and accountants to maintain the financial records and produce regular accounting information. Small businesses and in particular self employed business have a choice in how the financial accounts are prepared and produced. A... more...

Accounting » Bookkeeping | By Terry Cartwright @ Thursday, 29th November 2007 @ 12:55 AM

Double entry bookkeeping is an accounting technique to record the financial transactions of a business where every transaction is entered twice, equal and opposite transactions. Double entry is required for all businesses that must produce both a profit and loss account and a balance sheet. All limited companies are required to produce a statement of assets and liabilities and maintain a system of financial control and invariably need to adopt a system of double entry bookkeeping usually ... more...

Accounting » Bookkeeping | By Terry Cartwright @ Wednesday, 28th November 2007 @ 1:29 AM

Double entry bookkeeping stretches back centuries perhaps even as early as the 12th century and is now accepted worldwide as the accounting standard to be employed by all companies in recording the financial accounting records. The first written explanation of the accounting system was reportedly by a Venetian mathematician Luca Pacioli towards the end of the 15th century. The accounting industry has grown somewhat since then and today contains many technical words known but largely ignor... more...

Accounting » Bookkeeping | By Derek Both @ Wednesday, 28th November 2007 @ 1:26 AM

Supply chain management software UK can help a business with the day to day running of their business in order to make it easier and more effective. It can be hard to find the time to do a lot of things and a lot of people new to the business also don't understand a lot of the terminology. It helps you to get jobs done quicker which leaves you with more time to concentrate on other aspects of your company. Supply chain management software UK can help businesses because it improves t... more...

Accounting » Bookkeeping | By Derek Both @ Wednesday, 28th November 2007 @ 1:26 AM

Tax can be a tricky and confusing subject - are you paying too much? Too little? Are you on the right tax code? These are the very reasons why so many companies hire tax consultants London. It is so much easier than trying to understand everything yourself and you can be guaranteed that the job is going to be done correctly. Tax consultants London offer tax and financial advice to businesses regardless of whether it's one person running it or if it's a large multinational compa... more...

Accounting » Bookkeeping | By Terry Cartwright @ Tuesday, 27th November 2007 @ 12:41 AM

Bookkeeping stems from the recording of financial transactions and the accounting term for a business accounts as books. In effect the accounting function prepares a record of the monetary affairs of a business and stores the information in files called books. Hence the term bookkeeping often misspelled as book keeping which is the function of a librarian not that of a bookkeeper. The difference between bookkeeping services and accounting may be unclear to the uninitiated while both are o... more...

Accounting » Bookkeeping | By Derek Both @ Wednesday, 21st November 2007 @ 12:32 AM

No matter what business you're in, unless your customers are happy, you won't succeed, and this is why Customer Relationship Management (CRM) is so important. More important than sales, or marketing, or any other part of the company that wouldn't survive without customers; yet customer relationship management is still low on the priority list of so many companies today. To know how to maximise your businesses potential, you need to know what your customers are thinking. Af... more...

Accounting » Bookkeeping | By Derek Both @ Wednesday, 14th November 2007 @ 1:26 AM

Financial planning is important to any business for many different reasons. These can be in order to protect your business assets, so you can plan for retirement, to extend your investments and many other reasons as well. For these reasons many companies hire a financial planning consultant in order to help them achieve all of these things. A financial planning consultant will help you protect and get the most out of the money that you already have. This is helpful to any business as the... more...

Accounting » Bookkeeping | By Derek Both @ Tuesday, 13th November 2007 @ 9:13 PM

Whether you are a large business or a small business there are many advantages of using Sage payroll accounting software. Not only can it help you to stay more organised but it can also help you get certain jobs done quicker and more accurately. Many people who are in charge of doing the wages hate doing them because it can be a very time consuming task and it's hard to find the time to do them. However, with a package such as Sage payroll accounting software, once it has been set u... more...