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Bank Reconciliation: Purpose, Example, Process

Bench simplifies your small business accounting by combining intuitive software that automates the busywork with real, professional human support. However, sometimes there are differences between the two balances and so you’ll need to identify the underlying reasons for such differences. After adjusting all the above items what you’ll get is the adjusted balance of the […]

The Guide To QuickBooks Desktop Pricing

(To give you an idea of how much this price fluctuates, one user on the Silver plan would cost $1,481/year, while 30 users would cost upwards of $9,729/year). Luckily, Intuit is often running promotions and discounts on the Intuit website. QuickBooks Premier has almost all of the same potential additional fees as QuickBooks Pro, with […]

Learn about the QuickBooks Live Bookkeeping service

QuickBooks Live Bookkeeping offers online bookkeeping services that connect small businesses with trusted, QuickBooks-certified virtual bookkeepers. Depending on the service you choose, a bookkeeper can give you guidance or take the lead on your bookkeeping. Although QuickBooks Live Bookkeeping offers “full-service” bookkeeping, some tasks often fall to in-house or outsourced bookkeepers that aren’t included in […]

What are consolidated financial statements?

If an entity employs a different timeline from the parent firm, it is prudent to alter the entity to reflect the parent company. There is no distinction between the companies’ or entities’ assets and liabilities thanks to the abolished account receivable and account payable balances. If you’re unsure about the compliance and reporting requirements for […]

Unconsolidated Subsidiary: Meaning and Examples

Financial statements that are presented as belonging to a single economic unit are known as consolidated financial statements. These statements are helpful for examining the financial situation and performance of all firms that are held jointly. Apply the intercompany elimination procedures now to any entities that engage in business together. Create the consolidated income statement […]