What is Bank Reconciliation?

What is Bank Reconciliation?

As a business owner, it’s crucial to prepare a bank reconciliation statement for your company. Bank account reconciliation statement helps companies address errors that can negatively impact their financial and tax reporting. It is also an essential way to prevent and...
Basics of Chart of Accounts (CoA) You Must Know

Basics of Chart of Accounts (CoA) You Must Know

The chart of accounts (CoA) is considered one of the crucial tools for financial management. It is a useful record-keeping system for a company’s financial accounts that manage all financial transactions. What is a chart of accounts (CoA)? A chart of accounts is vital...