To ensure success for your business, establishing proper accounting practices is a must. Whether a small business of 5 employees or a growing company of over 1000 employees, the basic accounting principles for every business are the same. Avoiding mistakes in your accounting and bookkeeping system improves financial heath and
All successful businesses must adhere to strong accounting practices. As part of a successful accounting system, businesses must set up and use a general ledger that works for their business. Continue reading for more on what a general ledger is and the role it plays in any business. What is
Business owners face many challenges when running a business. Two of the more critical tasks of business operations are accurately processing payroll and proper accounting practices. Let’s take a look on how accounting for payroll works. How do I record my payroll in my accounting system (Quickbooks, Xero, Peachtree, etc)?
What do I do after running my payroll? One of the most important things you need to do after running your payroll is ensure that your payroll is posted in your general ledger system (like Quickbooks) properly. Paper Trails will always debit the entirety of your payroll, including wages, taxes