What kind of financial maintenance do you need for your business? There’s a common misconception that data entry, bookkeeping and accounting are similar disciplines but each position performs different duties (with some overlap). The chart below identifies the different duties of these three roles. Set-up Enter Transactions Checks, reconciliations and end of year processes Payroll [...]
Bookkeeping and accounting are both crucial business functions, but they are not the same. There are key differences between bookkeepers and accountants. This guide will explore the main differences and provide you with all the information you need about bookkeeping vs accounting. What is bookkeeping? Bookkeeping is predominantly concerned with recording financial transactions and ensuring [...]
In the past, accounting was typically done with pen-and-paper systems that often involved an accountant skilled in the use of a calculator and many sheets of paper that needed filling in. It was all about reading from invoice sheets, bills and other financial documents and compiling a business’s books by hands. Nowadays, there are far [...]
Every small business needs a good bookkeeper. The finances of any business, regardless of size, can quickly get complicated, and it’s the bookkeeper’s job to ensure efficient accounting and tax compliance. If you’re a small business owner, you may very well want one on your team as soon as possible, whether you employ them directly [...]
The Cloud is ever-looming overhead and getting larger as time goes on. More and more businesses are turning to Cloud software and solutions. This means that the software you, your team, or your outsourced partners use isn’t hosted on any one physical computer that you have in the office, but rather on servers in an [...]
As a business owner, you do need to focus on how you manage your time. Wasting time will mean that your business is less efficient and thus less competitive. Today, of course, business owners can rely on various pieces of software and different technology to speed up processes and make things a little easier. On [...]
Phishing scams are becoming more and more common on the internet. There are some known examples that most know to avoid, like emails from Nigerian princes asking for your bank account details or supposed attorneys informing you of a long-long relative’s death, promising you the money if you share all their personal details with them. [...]
What to Look for In Xero Bookkeeper Training Courses Xero is one of the world’s most popular accounting software packages, thanks in no small part to its ease of use, time-saving ability, and affordability. Whether you are a small business owner or an accounting or bookkeeping professional, Xero can assist in many ways. It will [...]
