article thumbnail

Accountants Behaving Badly: Police Department Accountant Couldn’t Be Bothered, PPP Loan Fraud, and a Creepy Tax Preparer

Going Concern

In that capacity, Urban was responsible for maintaining the company’s general ledger, preparing financial statements, and reconciling the company’s accounts payable and receivable and bank statements. Both women are in their 30s, and both had been going to Flinchum for at least three years for tax preparation.

article thumbnail

Accounting Technologies: The 2023 Annual Guide

Ryan Lazanis

For kicks, here’s the oldest Xero screenshot that can be found on record (from 2007): Here are some tips to leveraging cloud computing in accounting: Tip 1: Become Cloud Accounting Certified Master the popular cloud accounting systems , like Xero or QuickBooks Online, by becoming certified on their platforms.

Insiders

Sign Up for our Newsletter

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

Trending Sources

article thumbnail

How to Avoid Mistakes in Accounting: 5 Common Accounting Mistakes

Snyder

If you’re using a double-entry method of bookkeeping, having a general ledger with entries being recorded both as credit and as debit also lets you avoid errors. Tax and proper categorization. Another major reason for proper categorization is tax preparation.

Account 52
article thumbnail

Top 10 Best Mac Accounting Software Solutions For Your Small Business

Snyder

So if your accountant, for example, used to work with desktop accounting software (like QuickBooks Desktop, for example), you might need to find some way to organize your work together. QuickBooks Online. You might want to know that apart from the online version, QuickBooks also comes as a desktop solution compatible with Mac.

article thumbnail

The Best Staff Accountant Job Description Template

Ryan Lazanis

Specify the desired number of years of experience and any specific areas such as financial reporting or tax preparation. Applicants who stay up-to-date with accounting regulations, tax laws, and industry-specific compliance should be given more priority 4.

article thumbnail

Basic Accounting for a Small Business: Bookkeeping and Accounting Basics

Snyder

But if you use a double entry method, all your transactions are made as journal entries that are subsequently summarized in a general ledger. The most popular solutions for small businesses are QuickBooks Online , Xero , Wave , and FreshBooks. Tax preparation in everyday accounting. Reconcile and close your books.

article thumbnail

Everything you need to know about accounts payable

ThomsonReuters

It includes all of the bills a company owes to vendors and suppliers for goods and services provided to the business before they are paid. Because accounts payable entries are not immediately paid, they are listed as a current liability on a business’ general ledger and balance sheet.