Accountants Liverpool ~ LJS Accounting Services Contact us to find out how Haines Watts accounting services could help you and your business. © 2019 MHA MacIntyre Hudson - Chartered Accountants and Business Advisers. MacIntyre Hudson is a Limited Liability Partnership. His advice comes not just from his background as a Chartered Accountant but from learning and developing other skills relevant to running a successful business. From bookkeeping to VAT and taxation, payroll to management accounts, you’ll enjoy fully-managed solutions provided by experienced professionals. Our thorough understanding of HMRC processes, small business legislation and the latest cloud-based systems provides accounting activities complete peace of mind for our clients. Streets Chartered Accountants help with the preparation of annual accounts and financial statements, as well as tax and the use
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The Difference Between Bookkeepers and Accountants A bookkeeper may also generate invoices and/or complete payroll. The complexity of the bookkeeping process depends on the size of your business and the number of transactions conducted daily, weekly, and monthly. Before you set up your bookkeeping system, you have to understand the firm's basic accounts - assets, liabilities, and equity. Assets are those things the company owns such as its inventory and accounts receivables. Bookkeepers keep tabs on all invoices and due dates and follow up with late payers. They will also make sure that you pay your accounts on time and don’t pay twice. As soon as the payment is made they will record the amount as a business expense in the ledger. For example, the preparation of a
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Contra-revenue Archives Liabilities typically carry a credit balance. The two common contra liability accounts, discount on bonds payable and discount on notes payable, carry normal debit balances. A contra account is an account used in a general ledger to reduce the value of a related account. A contra equity account reduces the total number of outstanding shares listed on a company’s balance contra revenue account sheet. Treasury stocks represent a contra equity account. When a company buys back its own shares from the open market, it records the transaction by debiting the treasury stock account. Notes payable represents a liability created when a company signs a written agreement to borrow a specific amount of money. The lender may offer the company a discount if it repays the note
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