in Bookkeeping - 18 Sep, 2015
by Basic Bookkeeping - no comments

Bookkeeper keeps on using the various tactics and techniques of keeping the business balance. One among them is “double entry bookkeeping”. Double entry is the tactic of bookkeeping in which every transaction is made to give two of the opposite evidences on it.

It is a system of accounting in which each and every transaction comes with dual corresponding values. One comes in positive unit and the other in the negative unit. This is how, double entry bookkeeping gives the transactions two parts. And these two parts in turn affect two ledger accounts.

What will be the double entries?

As we are saying double entry bookkeeping will contain dual entries and their effect so a question will arise what these two entries are. Let me clear you that these two entries will be:

i. Debit entry

ii. Credit entry

From the above discussion it is clear that whenever we transact …

in Bookkeeping - 18 Sep, 2015
by Basic Bookkeeping - no comments

If we look at 20 cases of relationship between the bookkeeper and the business owner, we will find the consistency in 2%. The reasons embrace lack of understanding, bad strategic plan, lack of flexibility and non-enchanting pay scales of the bookkeepers.

Here the ball comes in the court of the business owner. He would have to understand the worth of a book keeper and he would have to be flexible in this regard. Let us look at various perspectives for sake of getting a way about how to work remotely with a bookkeeper.

Prefer quality over quantity of work:

Many of the business runners do a very complicated mistake at this point. They hire the bookkeeper and then start expecting him to work like a magic. Most of the business runners outs multiple duties on the shoulders of bookkeeper by keeping in mind “we are paying heavy to him”. No, …

in Bookkeeping - 18 Sep, 2015
by Basic Bookkeeping - no comments

While making the difference between a Bookkeeper and an accountant, you may take an example of bunch of flowers. As long as the bunch is concerned, it will be the task of “bookkeeper” to keep all the flowers at tie, to keep the right position of every flower and to equalize every stem of the flower in the same position as the stem of other flower. On contrary to this, the role of the accountant will “to actually tie up the flowers together”.check this article!

It means, accountant will be the tie band with whom bliss the bunch will actually be made. So, we can say, from one face of the side or the other, there are so many similarities in the working patterns of a bookkeeper and an accountant. The difference lies in the more skillfulness, more decision power and more authority. We can say that accountant position …

in Bookkeeping - 18 Sep, 2015
by Basic Bookkeeping - no comments

Handling small business does not demand the special hiring of the Bookkeeper. You can do it by yourself if you know the basic of bookkeeping. It will be a very simple task to do if you will do it rightly in an appropriate. So, open your book and entertain the following steps. And you will find you will be able to handle your bookkeeping very well by your own hands.

Written record is mandatory:

The very first thing in bookkeeping is the entertainment of record. You must keep the written records with you. Otherwise you can do many mistakes. So, pick a big register where you can note down about each and every transaction, every dealing, and about every operation and event.

Go for electronic record:

Other than written record, you can also go for the electronic recording system. Yes, here I am talking about making the spread sheets, …