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The 8 Important Steps in the Accounting Cycle

After you prepare your financial statement, end the accounting period. You’ll use closing entries to finalize your expense and revenue records. As you approach the end of the accounting period, you’ll need to add adjusting entries to your journal. These…

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Stale-Dated Checks Bank Checks 101

That way, you’re not only aware of your financial standing, but also shielding yourself from issuing a check when there aren’t sufficient funds to cover it. Tracking of payments can be accomplished through the use of checks, which provide both…

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Manufacturing Accounts Definition, Types, & Benefits

Cloud-based accounting software is very popular because you can update it in real-time from anywhere, including your shop floor. Cloud-based software offers apps for mobile devices, which makes it easy to use for multiple team members. An accounting software or…

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FDIC: Bank Financial Reports

Additionally, the template helps create a financial model showing how those expenses will progress and affect your net profit and bottom line. That means easy access to all company’s finances using a single and easy-to-understand dashboard. Manage all capital investments,…

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The FIFO Method: First In, First Out

This helps keep inventory fresh and reduces inventory write-offs which increases business profitability. Many businesses use FIFO, but it’s especially important for companies that sell perishable goods or goods that are subject to declining value. This includes food production companies…

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How to Become a Bookkeeper Courses Online

Barbara provides support services to colleges and universities that give the Certified Bookkeeper course. This course is completely online, so there’s no need to show up to a classroom in person. You can access your lectures, readings and assignments anytime and anywhere…

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