Every business has bills to pay, and the person in charge of accounts payable is the one who is responsible for getting those bills paid. In a larger business, or where there is a high volume of bills to be paid, there may be a person, or even a whole department dedicated entirely to accounts ...
The scope of a bookkeeper’s duties and responsibilities depend on the size of the business organization or establishment, and the way its accounting operation is set up. In a larger organization the bookkeeping function is generally split up into different areas of accounting, such as accounts payable, accounts receivable, payroll, general ledger, and possibly fixed ...
If you find this article helpful, you may wish to read the article by Melissa Bushman titled Accounting 101. Introduction There are four different journals used in accounting. These four journals are the sales journal, cash receipts journal, cash disbursements journal, and the general journal. This article explains the purpose of these four journals and ...
Many people are daunted the thought of accounting. While accounting does use some foreign terminology and can be very complex, this article is designed to help you get a basic understanding of the accounting process. The accounting process involves all the steps that take place between a single transaction and the completion of financial statements ...
Whether a business is large or small, the same basic principles and practices of internal control apply. One of the key components of internal control is the accounts payable cycle. Large or Small, the Control Concepts are the Same Whether a business is large or small, whether it is operated from a separate facility or ...
Any business, company or organization can fall victim of accounts payable fraud. If it takes too long for the fraud to be detected, the company may have already lost too much money for it to be recovered. The business may have no choice but to file for bankruptcy or close its doors forever. If accounts ...
