While bookkeeping and accounting are both essential business functions, there is an important distinction. Bookkeeping is responsible for the recording of financial transactions. Accounting is ...

Good bookkeeping is necessary to have the financial information you need to make sound business decisions. Many, or all, of the products featured on this page are from our advertising partners who ...

How Ledgers and Journals Are Used in Accounting Get an overview of these fundamental bookkeeping tools. Ledgers and journals are the foundational tools used in the bookkeeping process. A ledger is a ...

Bookkeeping is probably the last thing small business owners want to be doing. However, recording financial transactions is essential for a small business’ stability. “It is vital that businesses have ...

The sequence of accounting procedures is also referred to as the accounting cycle. The process of going from sales to end-of-month statements has several steps, all of which must be executed correctly ...

Busy business owners need automation to review the financial picture, not generate the data. Creating effective processes can generate efficiencies, streamline procedures, provide better reporting, ...

There are many rewards to owing a small business, especially if you’ve launched it from the ground up and watched it grow. But, with success comes great responsibility on the bookkeeping front. From ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Accounting software streamlines the bookkeeping process, ...

Although it’s relatively easy to undo reconciliation in QuickBooks Online, doing so should be a rare exception. Many, or all, of the products featured on this page are from our advertising partners ...