Reports! Where are the Reports?! So, you or your bookkeeper have been diligently recording your transactions all month. Everything is in there. What now? Remember that one of the main reasons we engage in bookkeeping at all is so that we can generate reports to assist in managerial decision making. This is because looking at […]
Author: torontobookkeepingplus
Double Entry Bookkeeping
What do Quickbooks, Xero, Wave and all other off-the-shelf accounting software packages have in common with coded-from-scratch, all-the-bells-and-whistles, fully-customized accounting applications? They are all based on the system of Double Entry Bookkeeping developed in Venice during the Renaissance. First written of by Franciscan Friar Luca Pacioli it has been in use since the fifteenth century […]
Bookkeeping: What is Bookkeeping?
Bookkeeping is the process by which a company’s accounting records are built and maintained. It is the process of recording, organizing and storing your company’s accounting data which can be used to produce reports or verify details when needed. This is achieved by recording each and every transaction a company undertakes. Common examples include collecting […]
