Bookkeeping Archives - Page 5 of 5 - Monily

Bookkeeping

August 3, 2022
spreadsheet for bookkeeping

How To Create A Simple Bookkeeping Spreadsheet For Your Business?

A bookkeeping spreadsheet is more than a document with numbers; it is a magic mirror to see where the business stands, how far it has come, […]
July 14, 2022
Financial Reporting

Financial Reporting: The Meaning, Objectives, & Importance

A single thread that ties all business departments is accounting & finance. The finance department records and reports every business financial activity to executives and stakeholders, […]
July 6, 2022
adjusting entries

Adjusting Entries: A Simple Introduction

Most businesses use the accrual-based accounting technique for its manifold benefits and industry-wide acceptance. All its perks aside, accrual accounting makes it a tad bit difficult […]
July 2, 2021
how to calculate net income

How To Calculate Net Income

The bottom line on a company’s income statement is often the best way to gauge its financial health and foresee a profitable future – if any. […]
July 1, 2021
difference between debit and credit

Difference Between Debit and Credit – Bookkeeping Basics Explained

In accounting, the terms “debits” and “credits” might get confusing at times. This gets even trickier if you are a small business owner with no prior […]
June 18, 2021
cogs vs expenses

COGS vs Expenses: What’s the Difference?

One of the frequently asked questions with regard to business spending is whether the Cost of Goods Sold (COGS) and operating expenses are the same thing. […]
May 16, 2021

Bookkeeping vs Accounting: The Difference Between Bookkeeping and Accounting

Bookkeeping and accounting are normally used interchangeably, but they are quite different. While their processes are much different, they both work to support a business throughout […]
May 16, 2021

Outsourced Bookkeeping Guide: Things To Know

Bookkeeping is undoubtedly, one of the most critical business functions that help drive a business towards success. This is one of the reasons why hiring an […]