Recent Articles

Accounting Systems and Technology

Proper organization and document processes are reviewed and examined in this section. From the filing system to the best software for the office, learn about accounting systems and technology.

Gathering Data from Sales

08/08/2016

In business the best source of new business is the existing customer.  Discovering the customer’s habits and characteristics allows the sales department to expand into new geographical territories with similar customer characteristics and/or [...]

Perpetual Inventory

10/10/2015

Most small businesses use the annual inventory system to determine ending inventory value. Any adjustments are to the income statement inside the cost of goods sold formula. This is acceptable if management only wanted accurate financial statements [...]

Internal Controls – Fixed Assets

07/06/2015

Internal controls is an accounting system to aid in proper reporting of existing assets and liabilities.  Internal controls over fixed assets alleviate two distinct risks.  The primary risk is physical in nature and relates to the asset getting [...]

Control Accounts in Accounting

06/08/2015

Accounting uses accounts to sum up activity related to a particular function of business.  As an example the bank account has a register which identifies the activity in a ledger format of what transpires at the bank for this particular account.  [...]

QuickBooks – Best Accounting Software for Small Business

03/31/2015

For small business, there is no software to match the value QuickBooks brings to the business operation.  I used Peachtree software for 20 years and still do to this day.  But QuickBooks is by far superior in all regards in comparison to Sage [...]

Project Accounting – Introduction and Value

10/17/2014

In the world of accounting, project accounting is a subset of financial accounting.  Many folks believe it is a form of cost accounting and it is not.  Cost accounting is more formally a function of manufacturing and deals with large quantities of [...]

Point of Sale System – Introduction

12/03/2013

Almost all retail based operations require a Point of Sale (POS) System to properly record the customer and product activity.  So what is a Point of Sale System?  How is it set up?  What information should we get from this system?  How does a [...]

Chart of Accounts – Layout

11/27/2013

The goal of accounting is to record the economic activity of the business.  This is achieved by entering each economic transaction into a set of books.  The books are formatted to reflect the balance sheet and income statement items.  The chart [...]

Effective Internal Controls for Cash

03/18/2013

All businesses should have internal controls to deter fraud, detect theft, and preserve assets.  Of all the assets, cash is the easiest to misappropriate.  Effective internal controls for cash prevent the proverbial hand in the cookie jar.   So [...]
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