Recording Transactions
Invoices – recording of invoices is made easy. Data will be entered into the cloud-based system software. Accessible anywhere, anytime with an online connection. The system with an auto-fill and copy feature.
Bills – payments are linked to bank accounts. Default credit data entry (bank account) is automatically created for review. Once the for review transactions are verified, the data is entered to the book of accounts.
Deposit – Data can be entered within the bank register. Bank funds can be transferred from one account to another.
Withdrawal – Automatically recorded once the bank account is linked to the system software.
Bank Reconciliation
Bank Statement CSV file can be uploaded to the system software for quick reconciliation. Transactions are matched with the automated transactions for review. Monthly bank reconciliations prepared instantly. This allows you to know and even monitored where your money is going. There is also an option to link bank accounts for real-time posting of transactions.
Troubleshooting Ledger accounts
Reconciling of accounts and fixing account balances. Financial Statements could be balanced in general but could be misstated in details. Troubleshooting of accounts is correcting or adjusting accounts to make them accurate balances. This includes reclassifying of accounts and adjusting data entries.
Customize Excel Templates
Customize excel templates based on your company needs. As a start-up, it’s practical to do accounting using excel templates. Because it doesn’t have a monthly subscription. Moreover, Excel can be an alternative to system software by adding a formula to every cell to automate the amount summary. By doing this, it somehow performs like a system because reports can be available once data is entered into excel. Later on, as your company grows you may migrate it to the system software for more features.
F.A.Q.
Frequently Asked Questions
Yes, recording of transactions includes Accounts Receivable (collections) and Acounts Payable (billings) and their corresponding account reconciliations.
Yes, QuickBooks Online uses third party application called Saasant. Data can be migrated quickly because of Saasant excel upload data feature.
Yes, you may send your accounting questions under contacts and answers will be sent within the day. One on one consultation or tutorials requires subscription.