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Accounting and Bookkeeping in XERO for Small Businesses
XERO is an online accounting platform and is gaining huge acceptance in all countries including New Zealand, Australia, UK, US and Canada for accounting and bookkeeping of small and medium sized businesses. [1] Accounting And Bookkeeping in Xero for Small Business The key reasons which may have played major role in making XERO a huge success is the ease of use, access flexibility (being an online platform) and the support team. Today, when the world is moving towards increased connectivity in all aspects of business verticals and cost cutting being a thrust for all business owners, there is no reason why off-shoring would ...Read More
Posted in Accounting Outsourcing Services, Accounting Services For Small Business, Bookkeeping Service | Comments 0
Bank Reconciliation – A Must for Small Business Accounting
Bank reconciliation could be termed as one of the basic and prime control factors while performing accounting and bookkeeping for any business. For a small business, bank reconciliation plays a more vital role as generally there are no explicit control mechanisms in place for a small business and hence reliance on bank reconciliation like tools could not be ignored. In a lay man’s terms – A Bank reconciliation ensures that whatever needs to be paid – has been paid and what was due to be received has been received. This is one of the biggest hurdles faced by a small and ...Read More
Posted in Bank Reconciliation | Comments 0
Managing Cash Flow for Small Business
Cash flow management refers to tracking the cash position of the business on a regular note so that the decision makers have the correct financial picture to take informed business decisions. Cash flow management for a small business involves tracking the actual cash receipts and payments and it also include mapping the receivables / payables with the expected dates of realizations etc (to the extent possible to map) so that the expected cash flow position is visible to the business heads to take realistic business decisions. An accounting cash flow position is different from an economic cash flow position as the accounting ...Read More
Posted in Accounting Services For Small Business | Comments 0
