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Articles in Category: Bookkeeping

 

 

Account Master Global Solution keeps you informed with bookkeeping tips and general business ideas.

The information provided here is of a general nature and should not be your only source of information. Please consult an experienced tax agent as each small business’ circumstance will vary for end of financial year.


New Age Accounting
New Age Accounting

Whenever we hear the word ‘accounting’, what always comes to mind are accountants dealing with countless figures written in columnar worksheets and manually computed with the conventional calculators or we picture them putting in all necessary formula through MS Excel. As much as every office tasks got their corresponding apps available in the Internet, various accounting softwares had come forth to make our accountants/bookkeepers’ work more efficient and easier.

Accounting data processing requires precision and mastery, and in this age working with large amount of digits can compromise the accuracy of the data in use. Computerised accounting can simplify many tasks and present apparent advantages over manually performing the accounting process. Here are some advantages of using accounting softwares:

Knowing Your Chart of Accounts
Knowing Your Chart of Accounts

Bookkeeping, the process of recording, journalizing, and interpreting financial transactions, involves a great deal of analysis and comprehension in able to present the financial data accurately. In order to achieve efficiency in gathering the financial information, a bookkeeper must be well-familiar with their chart of accounts.