Bookkeeping, Accounting, and Accountancy: Key Differences Explained
This helps identify discrepancies such as unauthorized charges, missing deposits, or data entry errors. Monthly reconciliations maintain accuracy and prevent financial mismanagement. Bookkeepers also manage accounts payable and receivable, ensuring invoices are issued and payments collected on time. Delays in these processes can disrupt cash flow, making it necessary to track outstanding balances and follow […]
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