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Accounting for Cash Transactions

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The amount of outstanding checks is sometimes referred to as float. Accounts payable ledgers will help you control your expenditures and payables. If you maintain accurate payable ledgers, it will be easy for you to double 6 e-commerce financing methods to fuel online...

Accrual versus Cash Accounting Example

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You’ll create forecasts and budgets, invoice clients, record cash flow, and help the company through complicated transactions, such as mergers or acquisitions. You’ll ensure the company meets its tax deadlines and help avoid awkward financial situations...

What is Owner’s Equity?

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The financial statements provide feedback to the owners regarding the financial performance and financial position of the business, helping the owners to make decisions about the business. A balance sheet provides a snapshot of a company’s financial performance at a...

How long should I keep records? Internal Revenue Service

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So, to be conservative, keep these documents for seven years after you no longer own the property. Tax time might be the most important time for business recordkeeping, but taxes aren’t the only reason you should be keeping all of those documents. Invest in a strong...