Accounting
The process of recording, summarizing, analyzing, and reporting financial transactions of a business or individual. It involves preparing financial statements and ensuring accuracy and compliance with regulatory standards.
Accounting Data Security
Measures and protocols implemented to protect financial information from unauthorized access, breaches, and cyber threats.
Accounts Payable
Accounts Payable (AP) refers to the money a business owes to its suppliers for goods and services purchased on credit. Proper management of AP ensures timely payments and helps maintain good supplier relationships.
Accounts Receivable
Accounts Receivable (AR) represents the money owed to a business by its customers for products or services delivered but not yet paid for. Efficient AR management is crucial for maintaining healthy cash flow.
Audit
An examination and evaluation of financial statements and records to ensure accuracy, completeness, and compliance with accounting standards and regulations. Audits can be conducted by internal or external auditors to verify the integrity of financial information.
Balance Sheets
Balance Sheets provide a snapshot of a company’s financial position at a specific point in time, showing assets, liabilities, and equity. This financial statement is essential for evaluating a business’s financial health.
Bank Reconciliations
Bank Reconciliations are the process of comparing a company’s internal financial records with its bank statements to ensure accuracy and consistency. Regular reconciliations help detect errors and prevent fraud.
Banking
Banking and Cash Receipts involve the process of managing and recording all cash transactions and deposits made to a company’s bank accounts. This ensures accurate tracking of cash flow and financial stability.
Billing
Billing and Invoicing refer to the process of generating and sending bills to customers for products or services provided. Proper invoicing ensures timely payments and clear communication with clients.
Bookkeeping Confidentiality
The practice of maintaining privacy and safeguarding sensitive financial records from unauthorized access or disclosure.