Category Archives: Bookkeeping

Accrual basis — AccountingTools

If you do not use the accrual principle, then you are using the cash method of accounting, where you record revenue when cash is received and expenses when they are paid. There are also modified versions of the cash method of accounting that allow for the limited use of accruals. You must report the $1,000…

The Simple Accounting Equation

The Simple Accounting Equation To those unfamiliar with accounting, they may possibly believe that the term “basic accounting” is just a fancy name for the term “accounting,” but to these of us who’ve been within this organization for years, this can be a considerably distinct thing. It is essential to know precisely what this term…

Bookkeeper Education Requirements

Bookkeeper Education Requirements Learn how to become a certified bookkeeper. Research the education and career requirements, licensure, and experience required for starting a career in bookkeeping and see if a bookkeeping certificate is worth it for you. Bookkeepers manage the daily financial records of a business, literally keeping the books. Accountants can have more advisory…

Ace the Investment Banking Interview Financial Statements Question

Ace the Investment Banking Interview Financial Statements Question It covers money and other valuables belonging to an individual or to a business. Gross margin measures how much a company can mark up sales above COGS. Unlike the balance sheet, the income statement calculates net income or loss over a range of time. For example annual…

What is QuickBooks & How Do Businesses Use It?

What is QuickBooks & How Do Businesses Use It? Xero has over 700 integrations, while https://www.bookstime.com/ Online comes in with 590 integrations. Although, honestly, if integrations are important to you , you can’t go wrong with either software. Both Xero UK and QuickBooks Online UK have invoicing, VAT support, payroll (extra cost), and the ability…