On the other hand, if for any reason the cash book shows more bank balance compared to the balance of the bank statement, then the amount of that item is credited in the bank reconciliation statement. In some cases, we may issue a check to our creditor and the bank pays the amount of…
Transposition errors are the result of reversing two digits that were entered back-to-back. Serious financial consequences can result from a transposition error, such as paying an employee $8,268 instead of $2,868. It was recorded in the cash book and posted to the ledger at $2,930. In some cases, discrepancies in the cash book and bank…
The changing digital focus could also mean more success for Singapore, Germany, Sweden, the Netherlands, France, Canada and Israel, the author pointed out. Besides these measures, companies also have to re-assess their value proposition through enhanced employee experience, mentorship support, wellness programmes and, of course, skilling as they work towards getting attrition under control over…
India’s technology and business services industry has flourished over the past decade, with export revenues in 2008 reaching $46 billion, which covers roughly 74 percent of the country’s net oil imports that year. Apart from an isolated failure in corporate governance, India’s brand abroad has been burnished by the success of this industry. But…
With QuickBooks Desktop, users receive some of the most developed accounting tools on the market. The software offers comprehensive features, unique touches (such as lead management and sales orders), industry-specific versions of the software, and the potential to be more secure. For small business owners new to the accounting scene, this service may bring…
For example, when shares outstanding are going up, the ownership stake of shareholders is diluted. And when shares are bought back, investors end up owning more of the company. The shares companies issue are known as authorized shares, which are the maximum number of shares they are lawfully permitted to make available to investors. An…
Part of that is getting paid online, which helps businesses run smoother and more efficiently. Accounting software with built-in features for accepting digital payments, like QuickBooks Online, makes it easier to manage accounts receivables. Managing accounts receivables efficiently will benefit the business in several ways. The most important is the increased cash inflow by…
