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Understanding the Metrics’ SignificanceAverage collection period measures the time it takes a company to collect payments from customers on credit sales. As AR is listed as a current asset in balance sheets, businesses rely on this metric to ensure they have enough liquidity to meet their short-term obligations. A lower average collection period implies more […]

A deposit slip allows you to deposit deposit slip filled out cash and checks into your bank account or someone else’s account. It’s a piece of paper that records the amount of money being moved and where it’s going. If you run out of personal deposit slips, you can usually obtain more from your bank. […]

Bench gives you a dedicated bookkeeping team so you have a direct line to your own experts on desktop or mobile–professional support is just a few swipes, taps, or clicks away. As you probably already know, starting a new business is a lot of work! One of the most important steps you need to take […]

Underneath the balance sheet falls the income statement which depicts a specific period of time–the month of May, for example. For this reason, a chart of accounts is a foundational accounting tool for providing the accuracy and structure needed to understand every transaction in your business. It’s a comprehensive https://www.bignewsnetwork.com/news/274923587/how-to-use-construction-bookkeeping-practices-to-achieve-business-growth list of all account numbers […]

They are a service that frequently pushes their customers into high pressure purchases instead of actually helping them with their books or business goals. In addition, numerous customer complaints report tax filing and bookkeeping errors. While other major review sites give Accountant high marks, our research shows that those stellar reviews do not correspond to […]