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Wednesday, May 30, 2012

Bookkeeping Tool

My friend has a business and it's doing well. Once a week she took the time to do the bookkeeping job of their business. It's a bit tiring she said because she has a full time job aside from taking care of their business. The recording of the financial effects and financial transactions can be intimidating especially at the end of the month. She was doing manual and just a month ago, she bought bookkeeping software.

The recording of the financial transaction is important in any business. She updated their business sales book; check the flow of their cash book as well as the bank book. She also makes sure that when there are purchases and transactions made, it will be recorded in the purchase book.

She makes sure that everything is documented every time a transaction occurs. Sales and purchases usually have invoices or receipts. Deposits slips are produced when deposits are made to a bank account as well as cheques are written to pay money out of the account for easy tracking. With the help of the bookkeeping tool, the recording of the details of all the documents gathered are much easier to do.

It is a "black and white" recording and the details of the credit sales are recorded under sales flow and, all cash payments are recorded in the cash payments area. The software helped her a lot and makes her bookkeeping job easy to accomplish.

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