PROFITABILITY
It is important to track and analyze the company’s financial performance. This ensures that the business is running efficiently and…
Education Category: Finance & Accounting
TAXES
Tax management is vitally important as it ensures compliance with the law and tax regulations. It refers to the management…
OPENING ENTRY AND CLOSING OF BOOKS
Opening entry is referred to as the first entry that is recorded or brought forward from a previous accounting period…
COST CENTER AND BUDGETING
A cost center is a department or unit to which cost may be charged for accounting purposes. It is a…
SHARE MANAGEMENT
Shareholders are people, companies, or institutions that own at least one share of a company’s stock. They make financial investments…
SUBSCRIPTION MANAGEMENT
Subscription is a business model in which a customer agrees to pay the company for products or services throughout a…
BANKING AND PAYMENTS
Bank reconciliation is an important internal control tool to identify any accounting and bank errors and prevent and detect fraud.…
SETTING PAYMENT METHODS & TERMS AND CONDITIONS
Setting up payment methods and your terms and conditions are important. In this way, you provide convenience to your customers…
MULTI CURRENCY
Multi-currency refers to financial transactions in one or more foreign currencies. If your company operates internationally, multi-currency systems play a…
FINANCIAL STATEMENTS
Financial Statements are records that convey the business activities and financial performance of a company. They provide insights and transparency…
REPORTS
Reports provide an organized and concise summary of a specific topic usually for analysis for actions to be taken in…
ACCOUNTS PAYABLE
Accounts Payable refers to the company’s short-term obligations owed to its creditors or suppliers which have not been paid yet.…
ACCOUNTS RECEIVABLE
Accounts receivable refer to the money a company’s customers owe for goods or services they have received but not yet paid…
GENERAL LEDGER
A general ledger account is an account or record used to sort, store and summarize a company’s transactions. These accounts are arranged…
ACCOUNTING MASTERS
Accounting plays a vital role in running a business because it helps you make sound business decisions based on data.…