But financial statements may not provide the answers to all the questions you have about your business. The current ratio, like all accounting ratios, gives you answers to very specific questions. For example, if you want to know if your business has enough money to pay its bills, the current ratio can answer that question. However, [...]
While a bookkeeper can help with the precise details of the business, an accountant is better suited to do bigger-picture analysis and strategic planning. Your accountant will also use information from the ledger to prepare your tax documents, so it is crucial the two roles work together for accurate IRS reporting. https://centraltribune.com/navigating-financial-growth-leveraging-bookkeeping-and-accounting-services-for-startups/ Think of your bookkeeper [...]
Any document that is used by a business to inform a customer that their account has been debited for a certain amount is a debit memo. Essentially, it is the opposite of a credit memo, which is used to credit a customer’s account. In this case, the organization would issue a credit memo for ₹50 to [...]
