Archives de catégorie : Bookkeeping

If there are transactions that haven’t cleared your bank yet and aren’t on your statement, wait to enter them. If the last statement’s ending date is displayed, check it for accuracy to maintain continuity. Once all details are aligned and verified, you can start the reconciliation by selecting the Start reconciling option. cb contingent liability […]

It’s the tipping point where you’re no longer losing money, but are not yet making a profit. Businesses share the similar core objective of eventually becoming profitable in order to continue operating. Otherwise, the business will need to wind-down since the current business model is not sustainable. There is no net loss or gain at […]

Managing royalty fees, advertising funds, initial franchise fees, and support services demands meticulous attention to detail. If you’re looking for an expert to help balance your franchise financials, contact Bookkeeping Express today. To be successful, you need each one of your franchises to operate in a consistent manner. Basics of Franchise Accounting Virtual franchise bookkeeping […]

Single-entry bookkeeping is a straightforward method where one entry is made for each transaction in your books. These transactions are usually maintained in a cash book to track incoming revenue and outgoing expenses. You do not need formal accounting training for the single-entry system. While the basics of accounting haven’t changed in over 500 years, the practice of bookkeeping has. […]

Instead of directly recording these transactions as separate deposits into your bank account, you can use the Undeposited Funds account to record a lump sum deposit that will match your bank statement. You will see Undeposited Funds as the default « Deposit to » account when you receive payments from invoices, use a payment item on an […]