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Moreover, real-time insights and updates on cash flow can be easily available. A customer buys $10,000 worth of products from the company on a 30-day credit term. After 15 days the customer pays $6,000, leaving the company with a balance of $4,000. AR management is important as it enables businesses to balance customer satisfaction and    »

The difference between the current balance and the needed ending balance is the amount for the adjusting entry. The key financial reports, your cash flow, profit & loss and balance sheet are an organised representation of these fundamental accounting records. They are built from the ground up by these debits and credits. It’s these reports    »

Plus, not every online bookkeeping service works with both accrual-basis and cash-basis accounting—but Bookkeeper.com does. Virtual accountants can utilize HighRadius’ Record-to-Report Software to streamline and automate the entire financial close process, from recording transactions to generating reports. HighRadius not only saves time but also allows for remote deployment, making it easier for accounting professionals to    »