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The payroll software you use should integrate with QuickBooks or whichever accounting software you use in order to keep an accurate record of payroll history in the event of an audit. Payroll software should also integrate with benefits administration software for accurate deductions and with time https://blackstarnews.com/detailed-guide-for-the-importance-of-construction-bookkeeping-for-streamlining-business-operations/ tracking software. In…...

Reconciling the accounts is a particularly important activity for businesses and individuals because it is an opportunity to check for fraudulent activity and to prevent financial statement errors. Reconciliation is typically done at regular intervals, such as monthly or quarterly, as part of normal accounting procedures. By prioritizing reconciliation in…...

This inaccuracy skews results as it makes a company’s calculation look higher. When evaluating an externally-calculated ratio, ensure you understand how the ratio was calculated. Low A/R turnover stems from inefficient collection methods, such as lenient credit policies and the absence of strict reviews of the creditworthiness of customers. While…...