Remove blog how-to-set-up-the-sales-ledger-the-purchase-ledger
article thumbnail

A sneak peek into what’s next for reports in Xero

Xero

If you have a Xero Premium plan and have added a foreign currency to your settings page, then you can jump in and give it a go. Our team hit the ground running in 2023, introducing a number of exciting features to new reports that we know you’ve been waiting for — including the addition of foreign currency to new reports.

article thumbnail

4 Accounting Transactions that Use Journal Entries and How to Enter them in QBO

Ronika Khanna CPA,CA

Digital Download Available at Amazon What is a Journal Entry and How to Enter it: Without taking you through an accounting seminar, suffice it to say that a journal entry is a way to record a transaction when the transaction is somewhat unspecific, outside of the normal course of operations or in the interest of time and efficiency.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Accepting Payments on Etsy with PayPal and its Alternatives

Snyder

When you’re an e-commerce business owner, setting up your online store with Etsy sounds like a great option for creating an additional revenue stream, with over 96 million active buyers across the world purchasing goods on the platform. What are Etsy Payments and how do they work? Click here if you want to check out more.

article thumbnail

What triggers a sales tax audit and how do you reduce the risks?

ThomsonReuters

What triggers a sales tax audit and how do you reduce the risk of an audit? Almost all companies undergo a sales tax audit at some point. This sales tax audit guide can help indirect tax teams avoid common audit triggers and manage the sales tax audit as smoothly as possible. What is a sales tax audit?

audit 105
article thumbnail

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

ThomsonReuters

This includes products or services that are purchased and invoiced. Generally, when an invoice is received, it’s recorded as a journal entry and posted to the general ledger. When the expense is approved by the authorized employee, a check is cut (digital or hard copy) based on the terms of the purchase agreement.

article thumbnail

Accounting for a Retail Store: an Ultimate Guide

Snyder

Accounting for a retail store – how is it different from basic business accounting? How do I keep track of the inventory on hand? How do I keep track of the inventory on hand? How can Synder help automate my retail accounting? As a business owner, you want to run your company as efficiently as possible. Contents: 1.

Retail 52
article thumbnail

Netsuite vs. Quickbooks: Accounting Software Comparison

inDinero Accounting

If you’ve been tracking your expenses and logging sales into Excel Sheets without issue, you may be wondering why you need accounting software. Running your own business can be rewarding, but it also requires a wide range of skills. One of the most critical aspects of running your own business is accounting. Benefits of Accounting Software.

NetSuite 104