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Special transactions

QuickBooks Online: Special Transactions

Accounting, Accounting Technology, Cloud-based accounting software, Online Accounting, QuickBooks Online Features, Small Business Accounting /

When using QuickBooks Online (QBO), it’s easy to assume that most transactions fit neatly into two categories: sales transactions or purchase transactions. However, several types of transactions don’t fall into either category, yet they’re essential for maintaining accurate financial records. These Special Transactions include bank deposits, journal entries, and zero-dollar transactions. Let’s break down these […]

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QuickBooks Online

Foundational Knowledge in QuickBooks Online

Accounting, Accounting Technology, Cloud-based accounting software, QuickBooks Online Features, Small Business Accounting /

Foundational Knowledge in QuickBooks Online QuickBooks Online (QBO) is one of the most popular accounting software platforms available today. It’s widely used by many businesses to manage financial transactions, track expenses, and generate reports that offer insights into the business’s financial health. In prior blogs, you have seen what it can do, but let’s take

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Separation of Duties

Strengthening Financial Controls Through Separation of Duties

Accounting, Cloud-based accounting software, Small Business Accounting, Uncategorized /

Strengthening Financial Controls Through Separation of Duties One of the most critical components of financial control in any business is the separation of financial duties. This practice not only reduces the risk of fraud but also ensures that no one employee has control over the entire financial process. By dividing accounting functions into smaller tasks

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What Makes Small Business Accounting Unique?

What Makes Small Business Accounting Unique?

Accounting, Small Business Accounting /

Small businesses often face unique accounting challenges that differ from those of larger businesses.  The differences between small business accounting and large business accounting are mainly due to the size, complexity, and regulatory requirements of the business. Small businesses have simpler accounting needs, while large businesses are more complex. Small businesses typically have fewer employees

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Is Outsourcing Your Accounting Tasks Beneficial?

Accounting, Small Business Accounting /

Is Outsourcing Your Accounting Tasks Beneficial? The decision to outsource your accounting tasks depends on various factors such as the size of the business, the complexity of the accounting tasks, the available resources, and the expertise required.  Whether outsourcing accounting is worth it depends on the specific needs and circumstances of each business. It may

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Expensify for small businesses

Is Expensify for Small Businesses?

Expensify, Small Business Accounting /

Is Expensify for Small Businesses? Expensify is ideal for small businesses! It’s a scalable, easy-to-use expense-management application and receipt-scanning solution.  Expensify is a product that works for everyone. Whether you’re a freelancer, a sole proprietor, or managing dozens of employees, Expensify can help you manage your expenses easily. What Can It Do? SmartScan Expensify’s most

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automated accounting systems for small businesses

5 Automated Accounting Systems For Small Businesses

Accounting, Accounting Technology, Small Business Accounting /

5 Automated Accounting Systems For Small Businesses As a small business owner, one of your goals is to work as efficiently as possible, correct? We’d hope so! In order to do that, it means it’s time to cut the clutter, ditch the piles of invoices and receipts, and say hello to digital accounting technology. Accounting

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