Single Entry Vs Double Entry Accounting Systems

Single Entry Vs Double Entry Accounting Systems

For many small businesses, bookkeeping can be one of the most daunting tasks when it comes to the accounting side of their business. In the past, most firms had one set of books, which included their revenues, expenses, which all finally got posted to their general ledger. This paper method of accounting was the only way to record all transactions at the time, and it left a lot of room for error and malfeasance. Read more

What Is Out-Of-Sample Testing And Why Is It Critical For Success In Forex?

What Is Out-Of-Sample Testing And Why Is It Critical For Success In Forex?

Assuming you have a manual system, an automatic robot or EA (expert advisor), you first need to check how this system would have been doing in the past if you had actually used it. This gives a vital view of the system performance and let you know what to expect and whether this system should deserve any further attention from you.

Indeed one of the main issues you are going to face is ensuring a system has a high probability of its future profitability. Read more

Playing With Numbers in Accounting

Playing With Numbers in Accounting

I was never a math major, and for good reason. Numbers confuse me. Rather, I settled quickly into the English side of things, focusing instead on grammar, sentence diagramming, punctuation and reader usability with technical documentation, etc. Later on, this transpired into work as a research assistant during my tenure as a graduate student; and it has since served me well in my current career choice as a writer. Read more

Reasons To Electronically File Your Taxes

Reasons To Electronically File Your Taxes

First, the Internal Revenue Service wants you to file electronically. Not only for your benefit, but for theirs as well. They have released several articles and publications encouraging people to get on their computers and file their taxes on the internet. A whopping 67.18% of the tax returns that the I.R.S. Read more

Point of Sales Software – How to Buy?

Point of Sales Software - How to Buy?

How To Buy Point Of Sales Systems

These days you can see Point of sales systems aka POS in many different restaurants, hotels, retail stores, medical centers and other local shops too. This digital system is a kind of electronic cash register and it proves to be very helpful for small businesses and medium sized businesses too.

If you have a small or medium sized business, you definitely need to have a point of sales system in your cash terminal, if you want to survive in the hard competition today.

The Working of POS

The user interface of this software contains many different columns. Read more

AP Automation – Eliminate Human Error and Reduce Costs in the Process

AP Automation - Eliminate Human Error and Reduce Costs in the Process

The dawn of the technology age has opened up numerous ways for businesses to save money on their accounting and finance systems that have been a drain on time and resources for years gone by.

By automating your entire accounts payables process with AP automation – from the creation of e-purchase orders to handling disputes and submitting payments online – it is possible to save at least 62 percent per invoice.

The main attraction of AP automation services is that they have the ability to be fully integrated within existing accounting systems in order to deliver a process that is efficient and just as importantly, paperless.

Instead of receiving and inputting supplier invoices manually, an AP automation system allows businesses to eliminate human inputting errors by inputting data directly onto their system electronically. Read more

General Ledger Accounting – Keeping Track of Your Business Information

General Ledger Accounting - Keeping Track of Your Business Information

If you are in business, you have data-it’s just a simple fact. It’s what you DO with that data that can greatly affect your business success. Do you throw all of your invoices and receipts into a drawer? Or worse yet, do you not even keep that information at all? Doing either of these leaves you in the dark about your business finances, which can quickly end in the demise of your business. Read more