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The Top 5 Differences Between Bookkeeping and Accounting

Bookkeeping and accounting are two critical aspects of business operations in any industry. Bookkeepers and accountants help business owners and executives to keep track of expenses, make informed business decisions, and potentially avoid serious issues such as fraud and embezzlement.

Topics: Accounting Business Advice Bookkeeping

How to determine if I have a contractor or employee?

There seems to be a trend for companies to utilize independent contractors rather than hire employees onto the payroll.

Topics: HR Rules & Regs Business Advice

Sales Tax Bookkeeping Advice for Small Business

In this weeks Bookkeeping tips article, we discuss the need to sharpen your skills in sales tax. As a seller of taxable products and services, collecting and remitting the correct amount of sales tax is critical. Audits can be brutal, and mistakes can be expensive.

Topics: Business Advice Bookkeeping

The Importance of Password Security and Password Keepers

 

Hackers are proving to be smarter and faster each and every day when it comes to hacking/breaching a network or e-mail. Some breaches, you don’t even realize that you have a breach until it’s too late. Most people don’t realize the importance of having a strong and unique password.

Topics: Best practices Advice Business Advice

What does your month end close process consist of?

Why monthly bank reconciliation is imperative

In today’s business environment, knowing how much cash your business has readily available is critical to the success of your organization.  This starts with the bank reconciliation, which enables effective cash flow management.

Bank reconciliations compare a company’s records to their bank records, which authenticates cash activity.  The bank statement is the source document issued by your bank confirming cash movement for a specific time period.

Topics: Accounting Accounting Methodology Cash Flow Management Accounting procedures Business Advice Bookkeeping