Cash Accounting vs Accrual Accounting Accrual accounting is the preferred method of recording transactions because it provides a more accurate representation of what actually happened during the period being reported. Cash accounting, on the other hand, records only those transactions that were completed during the reporting period. Your accounting system will affect several things. For…
Advantages of outsourcing Accounting and Bookkeeping As your business grows, all you will be concerned about is the accounting. With the growing business, you will have to bring in someone who can take care of your accounting and bookkeeping. Outsourcing these important functions of your business becomes unavoidable because handling accounts is a time-consuming task…
Accounting and Bookkeeping In-house vs Outsourced Bookkeeping and accounting are two functions which are extremely important for every business organization. In the simplest of terms, bookkeeping is responsible for the recording of financial transactions whereas accounting is responsible for interpreting, classifying, analyzing, reporting, and summarizing the financial data. Bookkeeping and accounting may appear to be…
Don't let doubts hold your business back.
