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Money received or spent, the transactions get electronically recorded in the bank accounts or the statements. In companies, the number of transactions may be more in numbers on daily basis. This may result in having a confusing and complex statement that it may not be a straightforward task to reconcile the statements. If so, you […]
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There might be several bookkeeping programs available in the market but Xero is different; it is a cloud-based bookkeeping service. Gone are the days when bookkeepers had to file everything in a folder and keep heaps of these files in their cubicles for later reference. Now you have cloud-based Xero bookkeeping services that allow you to connect […]
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If a business wanted to have a legal business status, it needs to create proper books of accounts for taxation. If the business has not maintained books right from the first day, it could have created lots of issues in future. In laymen terms, accounting is the art and the science of recording all the […]
Maintaining the books of accounts as well as the records for all your financial records is an extremely important, yet a mundane and an all too repetitive task. But, in the initial days of the accounting, many entrepreneurs tend to put it on hold or on low priority as, obviously, these are the days were […]
