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

Accounting Seed

Manual Accounting Methods Accounts receivable automation isn’t mandatory. It’s perfectly legal to handle your AR accounting with a spreadsheet, basic accounting software, or even a hard-copy ledger. Without sufficient cash coming in, you can’t pay employees, utilities, or the government.

Account 52
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How to Set Up Accounting for a New Business: A Full Guide

xendoo

If you are self-employed, you’ll need to withhold taxes from your income and then remit them to the government the same way an employer withholds taxes from their employee’s pay. Well, to answer the question, yes; it is entirely possible to do accounting on your own. Still, doing your own accounting has its downsides.