article thumbnail

Accounts Receivable (AR) Automation: The Solution To The Collection Problem

Accounting Seed

Managing Accounts Receivable Manually If your accounting system is on a cash basis, AR isn’t an issue. If you use accrual accounting, you record transactions as soon as you earn the money. You debit the $12,500 to AR and credit the same amount to your sales account. This is known as balancing your accounts/books.

Account 52
article thumbnail

Basic Accounting for a Small Business: Bookkeeping and Accounting Basics

Snyder

But the most important aspect of any business is accounting. All small business owners need to be familiar with basic accounting and bookkeeping, as it gives them a clear picture of the state of their finances, allows them to make informed business decisions, and lets them react to any adverse changes faster.

article thumbnail

Finance and Accounting Outsourcing: Benefits for SMBs

Snyder

Benefits of finance and accounting outsourcing for SMBs 3. When should I consider accounting outsourcing and bookkeeping services? How to make outsourced finance and accounting work for your business 5. Online accounting system Managing finance and accounting in-house or outsourcing for SMBs?