Bookkeeping Articles

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...

Accounting » Bookkeeping | By Luda Iazykova @ Tuesday, 7th August 2007 @ 9:59 AM

If you are the owner of the small business company you always have heaps of work, regarding your company finances. The fact is there and still do you need to go to the professional to take the stress off your shoulders? Visiting with your personal accountant is similar to going to your dentist. Time is money; the longer you delay your visit the more it will cost you. First you need to know how to set up your business and to consider advantages and disadvantages of every busin... more...

Accounting » Bookkeeping | By Christopher Anderson @ Monday, 11th June 2007 @ 11:37 AM

Whenever a business starts there is always the question of how the people that provide services for the business will be paid. Will those services be performed by employees or will independent contractors be used? Before the business can determine how to treat payments they need to know and make clear the business relationship. It is important to establish this relationship because an employee has taxes withheld, social security and medicare matched by the employer, unemployment insur... more...

Accounting » Bookkeeping | By Christopher Anderson @ Wednesday, 6th June 2007 @ 10:40 AM

There is nothing worse than preparing Income Taxes and finding that there were many deductions we didn't keep track of. Not keeping track of deductions can be very costly come tax time. It is very important to keep good records all year round. For every dollar you don't deduct, you could be paying up to 35% back to Uncle Sam. If the dollar has been spent, taxes shouldn't have to be paid on it. Think of the productivity of your business if you could put 35% of your incom... more...

Accounting » Bookkeeping | By Christopher Anderson @ Tuesday, 5th June 2007 @ 1:38 PM

The IRS recently published a newswire urging people to safeguard their records. IRS Acting Commissioner, Kevin M. Brown stated, "With forecasts calling for an active Atlantic hurricane season, the IRS encourages taxpayers to protect tax and financial documents that can be hard to replace." (Newswire dated June 1, 2007) Actually whether or not you live in a hurricane area, there are many things that can happen to destroy important records. We all think about big natural disaster... more...

Accounting » Bookkeeping | By T J Madigan @ Friday, 2nd March 2007 @ 3:24 PM

The service offered by these companies serves as the key for a doctor, or any healthcare provider for that matter, to get paid. The healthcare industry in America is alive and well, but in spite of this, many doctors and other healthcare providers dont have any idea how to get themselves paid quickly and efficiently. The answer, of course, lies in insurance. And how are insurance claimed? This is where medical billing companies come in. Medical billing companies are the ones who would sub... more...

Accounting » Bookkeeping | By Ben Franklin @ Sunday, 18th February 2007 @ 6:14 AM

If you plan on starting a business, a basic knowledge of the accounting code guide is necessary in order to keep track of your transactions. Even if you are not a bookkeeper and you decide to hire a professional, the basic accounting knowledge is always a plus in the success of your business. Accounting information is organized within the financial system of your company through the Chart of Accounts (COA). A list of all account names and numbers (cost elements) that appear in the company... more...

Accounting » Bookkeeping | By Sam Kern @ Wednesday, 7th February 2007 @ 1:49 PM

The most important lesson that every aspiring accountant learns right through his education and training is that of recording the transactions accurately and in the proper format. For there can be nothing more damaging to the credibility of the accounting process, if one could not rely on the figures thrown up. Book-keeping is an important aspect of an accountant's job. Although it might seem quite mechanical, practically it is not so. In a large organization, despite standardized... more...

Accounting » Bookkeeping | By james lowe @ Thursday, 20th July 2006 @ 12:25 AM

If you operate your own home business, then you are probably aware that there a few drawbacks to being self-employed, just as there are a few drawbacks to any major decision you do in your life. Being an entrepreneur and self employed often means that you lose some workplace benefits, such as group insurance, sick leave, paid vacations, etc. However, the government does provide solace balance to those who have an entrepreneurial spirit, and this solace comes in the form of tax breaks, bec... more...

Accounting » Bookkeeping | By David Gass @ Monday, 3rd July 2006 @ 3:44 PM

Bookkeeping is fundamental in running your business in an informed way. It is important that you have an organized, transparent and updated bookkeeping system in place. One of the ways to keep track of your company’s books is bank reconciliation. What is bank reconciliation? The procedure of comparing the account balance given by the bank with that of the company’s book of accounts and explaining any discrepancy is bank reconciliation. The discrepancy in the balances may be due to the ... more...

Accounting » Bookkeeping | By David Gass @ Monday, 3rd July 2006 @ 2:28 PM

When you confirm that the balance in your checkbook is in sync with your corresponding bank statement, it is known as account reconciliation. Any record that you keep regarding your financial transactions with banks, credit card companies, or retail stores is known as an account. It is an arrangement between buyers and sellers in which payments are to be made in the future. The different forms of payment are checks, bills of exchange, and promissory notes. These are transferable, signed ... more...

Accounting » Bookkeeping | By David Neehly @ Thursday, 1st June 2006 @ 6:10 AM

There's an abundance of Accounting Software packages in the marketplace, but even so, deciding which one would be best suited to your individual needs, doesn’t necessarily have to be a difficult decision. You just have to break the process down to a few matching a few simple criteria. Firstly, you need to ascertain what you want the product to do. Secondly, forget the sales hype that merely showcases all the "must have features" in each product, and thirdly, analyze each acco... more...

Accounting » Bookkeeping | By Jaci Rae @ Monday, 22nd May 2006 @ 9:33 PM

When you live in Never Never Land, aren’t things supposed to be fun? According to Michael Jackson’s latest financial woes the answer is no. Earning large amounts of money since he was five, how can Michael Jackson have a fiscal fiasco? It boils down to spending versus watching the bottom line. Although Jackson’s bottom line included 50% ownership in The Beatles Catalogue, a stake in the Elvis Presley and Bob Dylan Catalogues estimated to be worth ½ a billion dollars, not to mention his... more...

Accounting » Bookkeeping | By Ray La Foy @ Sunday, 14th May 2006 @ 7:00 AM

Every business needs to keep good records to ensure bills are paid, obligations are met and checkbook balances match up. Whether it's a home-based business, a Fortune 500 company or even the business of running a household, well-kept books can really help guide a "business" in the right direction when it comes to keeping finances in order. More and more people are turning to computerized programs for keeping money in check. The reasons for this are many. Computerized financia... more...

Accounting » Bookkeeping | By frank vanderlugt @

Accounting is the measuring, and disclosure or provision of assurance about information that helps managers and other decision makers make resource allocation decisions. How to become an Accountant. Accountants in the US are called Certified Public Accountants and in the UK and Canada are called Chartered Accountants. Chartered Accountants in Canada are expected to know all US CPA knowledge as well as a Canadian Accounting body of knowledge. In order to become an Accoun... more...