The working capital requirement of your business is the money you need to cover this time delay, and the amount of working capital required will vary depending on your business and its…

It provides a wide range of features that make it easy to track and manage finances, as well as generate reports. The ability to connect to other applications, such as…

Although some CFOs resist moving financials to the cloud, the process can help streamline processes and save money. ERP and accounting applications operate separately, but ERP systems can deliver valuable…

Bookkeeping can be done manually, but technology makes it easier for bookkeepers to do the job. As a matter of fact, businesses always need bookkeepers to maintain financial records and…

Retained earnings refer to the profits accumulated from previous financial years, minus any dividends paid out to shareholders. They are a key part of a company's balance sheet and are…

The journal entries in this entry show that the business directly reverses inventory to the value of the returned apparel. The company doesn't need to establish an account for allowances…

After adjusting the balances as per the bank and as per the books, the adjusted amounts should be the same. If they are still not equal, you will have to…

An example of this is using robots in manufacturing assembly lines, which can handle repetitive tasks such as welding, painting, and packaging with high accuracy and speed, reducing costs and…

Angie Nelson began working from home in 2007 when she figured out how to take her future into her own hands and escape the corporate cubicle farm. Angie’s goal is…

Use payroll software to generate a payroll-liability balance report each time you process payroll. Review the report, so you can post each adjusted journal entry. I have the same issue because I…