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#LasVegasQuickBooksTips

Cash vs Accrual Accounting Pros & Cons

by Lynnea Bylund on January 12, 2018 · 4 comments

Many businesses are effectively endangering their cash flow management by using cash basis accounting as their primary method of tracking their day to day financial dealings.  This can develop into a serious problem. Cash basis accounting doesn’t comply with GAAP principles. Source: www.accountingdepartment.com If you’re surprised to learn that, keep reading. Even though there are […]

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QuickBooks Tip: Is The Balance Sheet Correct?

by Lynnea Bylund on January 11, 2012 · 2 comments

Recently we looked at a new client’s balance sheet and saw that there were way too many accounts that gave rise to issues based on our understanding about his company.  We realized that he perhaps didn’t fully appreciate the importance of his balance sheet and how to read it. It is crucial as a business […]

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