Category: Bookkeeping

A certified bookkeeper will understand the intricacies of the software and what records need to be entered into the system. Having a professional manage your accounting software can also avoid the costly process of required Certified Public Accountant corrections to your books at tax filing time. Outsourced, virtual bookkeeping can cost as little as $150…

You can use a cash account to record all transactions that involve the receipt or disbursement of cash. The terms “credit balance” and “debit balance” are often used interchangeably. Double Entry Bookkeeping is here to provide you with free online information to help you learn and understand bookkeeping and introductory accounting. Chartered accountant Michael Brown is the…

One of the key standards is the Generally Accepted Accounting Principles (GAAP), which provides a comprehensive framework for financial reporting. GAAP encompasses various principles, such as revenue recognition, expense matching, and full disclosure, that healthcare organizations must follow. For instance, under GAAP, revenue from patient services must be recognized when the services are rendered, not…