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Accounting Cost For Small Business: How Much An Accountant Costs Your Small Business

Snyder

What are the peculiarities of bookkeeping for small businesses? Double-entry bookkeeping, transaction recording, reconciliation, getting invoices paid and bills covered – the entire process is centered around making sure that your bank account is in balance with your books records.

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GAAP: What It Is and Why Your Investors Expect It

inDinero Accounting

Additionally, GAAP ensures that businesses remain compliant with government regulations regarding financial reporting. On the accounting side, GAAP requires specific methods for recording transactions, such as double-entry bookkeeping, which involves debiting one account while crediting another in order to maintain accuracy in recording data.