Bank reconciliation is something that every business owner will have to do at some point. It’s a relatively simple process but ensuring that you have each and every item in place is critical. The purpose of this process is to determine the differences between your internal record keeping and your bank statements. This protects you…
DetailsOne of the most critical aspects of business is knowing your current business financial health. If you don’t know how your business stands financially, you could be leaving money on the table. This is why businesses have opted to begin using accounting software, such as QuickBooks, to improve their understanding of their business finances. Which…
DetailsOwning a business requires basic mathematics. Some equations can be simplistic and easy while others are a little trickier to resolve. Every business utilizes assets to function, which means you should have on equation memorized. That one mathematical equation that should be burned in your brain is how to calculate depreciation. Depreciation accounts for the…
DetailsUsing data trends is nothing new. In fact, data science is one of the fastest growing fields of study and employment in the world. This is because we have access to 2 things that we didn’t have before: massive amounts of data and rapid computer processing power. By leveraging these 2 things, your bookkeeping can…
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