With FreshBooks accounting software you’ll know at-a-glance how long tasks really take. Just start a timer and get down to business – when you’re done, you’ll have an accurate time log ready to pop onto an invoice. And when your whole team uses FreshBooks accounting software to track their hours, everyone’s productivity is in one […]
Category Archives: Bookkeeping
For instance, if a company holds stocks that have appreciated in value, the increase is retained earnings recorded as an unrealized gain. Conversely, if the value of these stocks declines, it is recorded as an unrealized loss. The nature and amount of each extraordinary item are separately disclosed so that users of financial statements can […]
Additionally, each transaction must be recorded in the correct accounts and with the correct amounts. It helps to ensure accuracy and completeness of financial records by requiring every transaction to be recorded in at least two accounts, which helps to prevent errors and omissions. Additionally, it provides a clear audit trail that can be used […]