Bank reconciliation protects your business from fraud, accounting errors, and mismanaged funds. At a minimum, it’s best to reconcile your bank and bookkeeping records daily, weekly, or monthly to catch errors immediately. It can be a tedious process. Nonetheless, it’s critical to your financial health. Good thing, Xero accounting software can make this process easier for you. Follow these steps on how to do bank reconciliation in Xero.

The Financial Accounting Standards Board (FASB) pushed through with the implementation of the new lease accounting standards (ASC 842) for private companies after a two-year delay.

A capital expenditure budget helps you assess if the long-term assets you’re planning to procure are viable or not. Here’s how you can prepare it.

Connecting your QuickBooks (QB) and Salesforce accounts unifies your accounting and sales departments. Not only does it remove silos between the two departments, but it also saves your bookkeeper time from double-entry of information. Take a look at the three options below for your Salesforce to Quickbooks integration.

If you’re not yet ready to manage an in-house accountant, working with an accounting firm is a viable option. The question is, which one should you hire: a small accounting firm or a large accounting firm?

Lack of funds can paralyze your business. Without enough money, sustaining your operations will be difficult. But sourcing funds isn’t a walk in the park, and not all options are available for your type of business. To increase your chances of getting the right resources, you must familiarize yourself with the different funding options for small businesses.