By requiring that every transaction be recorded in at least two accounts, this system creates a built-in mechanism for cross-verification. This dual recording helps ensure that the financial statements accurately reflect the company’s financial position. In the double-entry system, transactions are categorized into debits and credits, which are recorded in...
How to do a step-by-step bank reconciliation
It’s important to perform a bank reconciliation periodically to identify fraudulent activities or bookkeeping and accounting errors. This way, you can ensure your business is in solid standing and never be caught off-guard. All of your bank and credit card transactions automatically sync to QuickBooks to help you seamlessly track...
How to use Payroll Software to Manage Payroll
Some payroll products offer same-day or next-day direct deposit, but others may need longer than that. Until you’re sure how long it will take to complete payroll by payday, it may be helpful to allow some extra time for processing. Establish any benefits programs that you will offer employees, such...
Psychology of FOMO Fear of Missing Out
The problem is, for very gamer token crypto little children, everything is exciting! A quick look at these platforms will reveal just how many parents are dealing with the challenges of a FOMO baby. Even though your friends are gathered together at a party, is the party going to be...