Other Business Management

According to the Washington Post, credit card charge-off rates reached a new high in August 2009. Banking regulations dictate that lenders charge off balances that remain unpaid for six months....

In accounting the general ledger is the central financial record of the business. Every transaction is recorded in the general ledger. A transaction is a typical business event which can be...

Success of your business moreover depends upon qualified, competent, and reliable personals, which help you in maintaining your accounts along with keeping you aware of the abundance of the business.

Any business that sells a product has inventory. The products must be accurately priced to maximize profits and to be competitive against market rivals. To do this, the value of the products and...

An account is a means of accumulating in one place all the financial and operational information about changes in a specific business area such as liabilities, assets and owner's equity. By...

In private-side accounting, the general ledger is the cornerstone for all other related accounting records and financial statements of a company or business. This set of fiscal records is the...

The most efficient way for a company to handle credit and collections is by making these separate departments. Each department should know how the other department functions and operates, even...

The purpose of financial accounting is to record, classify and summarize financial transactions that occur within a firm. It is primarily concerned with reporting results of economic activity to...

A collections position is one that requires intelligence, drive, tact and organization to achieve the desired task: Collect the account and keep the customer. A collections person can't take for...

The accounts receivable value is not always the exact number that shows up on the balance sheet. This article will explain how to assign a value to this asset.

A lockbox account is a type of commercial or transaction account at a bank. There are different kinds of lockbox accounts, but they are all essentially holding accounts where money is collected...

Businesses create financial statements at the end of each month, quarter and fiscal year. These financial statements tell the story of how well the business has done over a certain period of time....

Accountancy is the term given to the profession or practice of accounting. Accounting is the art of measuring, describing and interpreting economic activity. According to Meigs & Meigs,...

Every business needs to have basic office accounting procedures in place. Accounting is the foundation of any business operation and if not done efficiently can eventually be the deciding factor...

General ledgers are the backbone of any accounting system. They provide written documentation about all accounts of your business and how they are affected by financial transactions. By utilizing...

Basic accounting involves taking daily financial transactions and properly classifying them, summarizing them and presenting them in a manner that represents a realistic picture of an entity's...

Accounts Payable or AP are classified as current liabilities and reported on the balance sheet. In order to close the books at month end and at year end Accounts Payable must be in reconcilement....

Business accounting procedures are collectively known as the accounting cycle. The accounting cycle begins with collection of raw transaction data, which are then sorted and organized by type. The...

If you are busy with the day to day running of a business, it is all too easy to overlook the signs which would indicate that the company is at risk of trading while insolvent. However, this...

A factoring account is a businesses agreement between a company and a factoring agency. Accounts receivable factoring is a form of financing where a business sells its accounts receivable to...

Internal controls are procedures a company puts into place to monitor and perform checks and balances on its methods and procedures. These safeguards are meant to protect the assets and resources...

A balance sheet audit, or balance sheet reconciliation audit, is an audit of the accounts on the balance sheet. These audits usually focus heavily on the cash, accounts payable, accounts...

Accounting and bookkeeping principles are an integral part of the financial management side of any successful business. Business owners may adopt an accounting cycle that allows them to record...

The consolidated balance sheet represents a parent company and the subsidiaries it controls. Before creating a single statement for a large corporate conglomerate, duplicate accounts must be...

General ledger accounts are the backbone to any accounting and financial information that comes out of a company. They cover all aspects of a business with regard to the flow of money and can be...

Investment banks have a responsibility to individuals and organizations that set up escrow accounts by guaranteeing certain factors within the account. There are rules and regulations that...

Balance sheets provide a breakdown of assets, liabilities and owner's equity so that stakeholders, investors and members of the management team can obtain an overview of each account at the end of...

A balance sheet is basically a summary of the company's balances. It applies to a single point in time. The balance sheet consists of assets, liabilities and equity. Assets are normally listed...

The online accounting version Quickbooks is fairly easy to use. Here is a quick review of the accounting software.

Working capital is a metric that represents a company's liquidity at any given time. This calculation is a part of operating capital and takes into account several current assets and liabilities,...

The accounting cycle is the process of entering records and transactions into the appropriate accounts and closing the accounts in the journal each accounting period. After all entries are posted...

QuickBooks Pro is a powerful tool for the small and medium size business. It provides accounting, invoicing, inventory and payroll functionality that will allow you to set up your business with...

Accountants define the trial balance as a tool to expose any error in account balances. It is an important part of the accounting cycle used to make sure all entries in the company accounts are...

One of the most vulnerable departments of a small company to fraud is the accounts payable department. The people who work there have access to checks and are responsible for all the money that...

A call from a bill collector isn't fun for anyone. The company making the call is faced with as serious a challenge as the consumer. The organization must determine when to stop pursuing accounts...

Providing topnotch customer service is one of the keys to growing any business. Tracking Customer Relationship Management, or CRM, gives you the data you need to satisfy your customers and accounts.

Cash is always king. Businesses must be mindful of payroll and the day-to-day operations of an organization. It is crucial that every company has someone who is tasked with monitoring and reducing...