“Yo man just got my paycheck. Let’s go out tonight!” Employees have an emotional attachment with their paychecks. After all, their paycheck is literally the fruit of their labors. As result, negligence and error in the payroll are inexcusable and bring many disappointments. The department in most businesses that handles payroll is HR. In the …
Financial reports are the periodic reports of information on financial statements of a company, including its financial position and performance, for the use of management or an external party. The four primary financial reports in business are the balance sheet, income statement, cash flow statement, and statement of shareholders’ equity. The Purpose of Financial Reports …
“The balance sheet is a snapshot of the company financial standing at an instant in time” Do you know what are the Parts of a Balance Sheet? The Balance Sheet can be broadly broken into two sections, namely “Assets” and “Liabilities”. Assets are what a business uses to operate its business, while its liabilities and …
The term bookkeeping is comprised of the two words ‘Book’ and ‘Keeping’ where ‘Book’ means the collection and retention of financial activities and ‘Keeping’ is their maintenance. In this sense, bookkeeping is a process of collection, retention and maintenance of the financial activities of a company. In course of time it has been developed as …
We all have bad days. Sometimes we make an error while manually entering data, send the data to the wrong place, or mix up figures of sales order in our accounting system. But having an integrated system of ERP and CRM can reduce those vexatious data handling errors. What do ERP Systems Do? An …
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