Accounting, as they say, is the language of business. Accounting is that one activity on which entire business revolves around. A good and fair accounting practice can set the reputation of a business while bad practices could spoil it. Let’s look into some of the best accounting practices that hold the key to success. Invoicing The image of the company is often reflected in the way invoicing is handled. A comprehensive invoice template will contain the essential components such as name and address of the company selling the product or service, buyer’s name and address, s...

Accounting is a basic component of business, in which the movement of money is recorded and analyzed. There are a lot of parts of accounting, but there are some parts that stand out as universally viable and crucial. These components are going to be discussed in this brief introductory article. More research is always better when it comes to accounting, so start here and continue onward later on. The following terms are only some of the most basic possible, but they are also some of the most often used in the accounting world. Accounts Receivable An account receivable is an amount of money t...

Inevitable For Today's Business Creative accounting is the practice of putting a company's best foot forward by creatively and legally recording accounting records in ways that offset negative records. Creativity has been practiced in accounting in order to give a new dimension to business. For those of you who had considered accounting is all about maintaining records, creativity is something that makes it more exciting. Consistent growth Every business wants to portray consistent growth instead of depicting volatility in terms of profits. This is the main reason why creative accoun...

Over the years, manual accounting process has proved to be cumbersome, time consuming, laborious and prone for tampering. It always carries the risk of being lost or destroyed. Further, the information in the books is difficult to search and cannot be readily accessed when required. This leads to unwanted waste of time at the time of filing tax. Accounting software has proven to be a perfect substitute for this futile effort. The following points will explain how this software has proven to be a winner for every business and unavoidable too. Saves time One of the main advantages of using thi...

Accounting is the lifeline of every business. It is the list of transactions that have taken place over a period of time and gives a clear picture of profit or loss at the end of every year. Business accounting concepts differ based on the size of the business. Small business accounting is very different from corporate accounting, as the amount of transactions and volume vary hugely. The accounting concepts do differ from each other although the basics remain same in both forms. Here is the comparison of both the accounting concepts and how they can actually have an impact on your business....