QuickBooks is one of today's most popular generalized accounting and bookkeeping platforms that appeals to a wide range of business types, sectors, and sizes. Still, as with any off-the-shelf product, some find it lacking specific features or prefer to nest it into a broader business management ecosystem. For those wanting to do more with QuickBooks,…

NetSuite is one of the popular ERPs, which divisions across businesses and industries can use to operate smoothly and efficiently.  NetSuite's key strengths lie in its integration capabilities and modules that extend its functionality. NetSuite connects with third-party applications and has broad functionality to cover most general use cases. The integrations are helpful to bring…

Sometimes, basic business processes can be way more time-consuming than business leaders realize. Invoicing, for instance, is something that every single accounting team has to learn how to manage. At its core, invoicing seems simple: a vendor provides goods or services, details the items provided, and sends a bill to the customer (AKA an invoice).…

Petty Cash Reconciliation: What is It, Best Practices, and Automation Petty cash, also referred to as a small cash fund, is a fixed amount of money reserved for minor expenses in a business. These expenses typically include small purchases like office supplies, travel expenses, or miscellaneous items that are too insignificant to warrant writing a…

In today's fast-paced business environment, efficient management of accounts receivable (AR) and accounts payable (AP) is crucial for maintaining a healthy cash flow. Invoices are an essential part of this. Invoice creation and Invoice processing are critical steps in these processes. NetSuite's robust invoice management system offers a powerful solution to automate and streamline the…

QuickBooks is one of today’s top accounting and bookkeeping platforms, and its reputation is well-deserved. Dominant across multiple industries and popular with most business sizes, from freelance solopreneurs to enterprise megaliths, QuickBooks covers most common accounting bases and is a well-rounded, general-purpose tool that legions of clients and fans enjoy.   However, though QuickBooks enjoys name…

Introduction to Bank Reconciliation Journal Entries Bank reconciliation is an important process in accounting that ensures the accuracy and integrity of a company's financial records. It involves the comparison between the company’s internal financial records and those of the bank. At the heart of this reconciliation lies the creation of journal entries, which serve to…