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What is 3-way matching and why is it important?

Airbase

In the world of finance and procurement, accuracy and accountability are paramount. Three-way match has long been an important control measure practiced by accountants to make sure that what was purchased, what was received, and what was paid are fully aligned. 3-way matching vs 2-way matching vs 4-way matching.

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What is the difference between sales tax and VAT?

ThomsonReuters

What is the difference between sales tax and value-added tax (VAT)? To explain further, let’s outline the similarities and differences between these two types of indirect tax. Sales tax vs. VAT overview. VAT : All parties must keep invoices for purchases documenting VAT paid in order to get the reclaimed VAT.

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Accounts payable vs. accounts receivable: What are the differences?

ThomsonReuters

Accounts payable and accounts receivable are opposite but interconnected procedures. When accounts payable and accounts receivable are in balance, a business can plan ahead for growth. For business owners, a working knowledge of both accounts payable and accounts receivable is necessary to sustain business operations.

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Is QuickBooks Online the Right Accounting Software for Your Small Business?

Ronika Khanna CPA,CA

The search for the right accounting software can be a time consuming process. A Google search for “ small business accounting software ” yields over 250 million results. COST One of the most attractive aspects of QuickBooks Online (QBO) is you get a fully functional accounting software at a relatively low cost.