Bookkeeping Articles

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...

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...