5 Essential Bookkeeping Tips for Small Business
Suggestions for best bookkeeping practice 1. Frequency Of Update Of Books The frequency of your update drastically affects the efficiency of your bookkeeping. Ideally, you should update your records weekly or fortnightly. Doing it more frequently or regularly may lead to inefficiency of the employee doing it. But doing it less frequently or in long […]
When is the time to stop using small software and move to ERP?
Benefits of ERP Software for Accounting Benefits of ERP Software for Accounting – For several years, many of the businesses are using accounting software to carry their accounting activities. They use the accounting package as per the requirements of the market and the capability of the staff handling these activities. Accounting software is an essential […]
Accounting for real estate acquisition
In this current global economic world, International Financial Reporting Standards (IFRS) has been an important topic. Looking at the worldwide level, implementing IFRS seems to be a logical move. Many of the institutions and nations have welcomed this implementation; Still, some professionals find it sceptical to accept it completely. Recently, this topic is being discussed on […]
What is Depreciation and its Accounting
Everything about Depreciation Every asset a business owns is liable to lose its original value over the years. Thus, we can say that depreciation is the ‘loss of value’. For instance, you purchase any machinery for the production of goods. The business will use that machinery for years and then, it will eventually sell it […]