Cloud Accounting

What is Cloud Accounting One of the latest trends in small business accounting is the use of cloud accounting software packages rather than in-house software programs. The main feature of cloud accounting is that your accounting software and data are hosted by a remote server, as opposed to being stored on your in-house computer. Your…… Continue reading Cloud Accounting

Understanding the Balance Sheet

Most financial statements include a balance sheet, an income statement, and a statement of cash flows. In this blog I will discuss the balance sheet. Winnipeg, Manitoba The balance sheet shows a company’s assets, liabilities and equity at a specific point in time, usually at the year-end or at a month-end. All the numbers on…… Continue reading Understanding the Balance Sheet

Understanding Financial Statements

Importance of Financial Statements Most businesses must file financial statements to satisfy lenders and to file annual tax returns. However, an understanding of financial statements also provides business owners with the ability to determine the financial state of their business and how it is performing. Financial statements are a valuable management tool. They provide a…… Continue reading Understanding Financial Statements

Accounting vs Bookkeeping

Bookkeeping Although the terms bookkeeping and accounting are often used interchangeably, bookkeeping is generally referred to as the basic recording, often routinely, of initial daily transactions into some form of ledger.  Transactions are entered into ledgers such as a general ledger, cash ledger, sales ledger, purchase ledger, or payroll ledger. True bookkeepers will not take…… Continue reading Accounting vs Bookkeeping

The Importance of Accounting

Why Do Businesses Need An Accounting System? All businesses and organizations need an accounting system so that they can measure how they are doing financially. By using an accounting system, businesses can determine how successful they have been and are provided with a reliable basis from which to make future decisions. This information is essential…… Continue reading The Importance of Accounting

Bookkeeping Services

Having trouble keeping accurate accounting records? Don’t have enough time to do your own accounting? My bookkeeping services can help you. Bookkeeping is the initial recording of financial transactions and is the start of the accounting process, which ultimately leads to your financial statements. Therefore, it is very important that bookkeeping is done accurately and…… Continue reading Bookkeeping Services

QuickBooks Online Cloud Accounting

Author - Julie Morris

Manage Your Business From Anywhere with QuickBooks Online Great News – Quickbooks is now offering QuickBooks Online cloud accounting software and services. By allowing you to enter date online from any device, entering transactions is now more convenient and makes it easier to keep your accounting up-to-date.  QuickBooks Online frees you up to focus on…… Continue reading QuickBooks Online Cloud Accounting