Tag Archives: Accounts Payable

Bookkeeping Is Imperative For Large And Small Companies

Keeping accurate records and well organized data is important to the financial well being of companies big and small. Good bookkeeping may not directly contribute to the profits of a business, though some bookkeepers would argue this, it important to the to their fiscal well being. Besides the possibility of increasing profits, there are many important reasons to maintain accurate and organized records.

One of the most important reasons to maintain accurate records is in case the business needs to borrow money for an opportunity to grow or for other expenses. Lenders expect to see solid bookkeeping and to fully understand the solvency of a business before granting any loans. Bookkeepers must keep track of the money that the company or small business has, but also be able to determine whether the owner will qualify for funds in the future. Additionally, companies or small businesses that rely on outside financing to survive must regard this as a top priority.

Accurate bookkeeping is also important in generating data for owners and managers to make management decisions, whether this is on a daily, monthly or quarterly basis. Current ledgers will indicate accurately whether a customer is past due and which are carrying balances on their lines of credit. Without this information, the company cannot effectively respond to patterns of late payments or nonpayment of customers. Additionally, these losses over time will eventually hamper a companies ability to stay in business or have enough to grow.

Businesses also use their records to determine their financial stability. They can see if their gross profits are in line with their projections. Large or small business bookkeeping helps owners decide if the prices of their products and services are sufficient to cover their costs. Additionally, this information is critical at tax time. Accurate income and expenditures are a must for a company to figure their tax liabilities for the IRS.

Via EPR Network
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Welcome to EPR Accounting News

EPR Accounting News is a new blog, part of EPR Network, that is going to be focused on and will be covering the accounting news and stories from press releases published on EPR Network.

EPR Network (EPR stands for express press release) is one of the nation’s largest press release distribution networks on Web. The EPR’s nationwide network includes 12 State based PR sites, one major PR forum and a number of industry specific PR blogs and what started as a hobby on Internet years ago turned out to be a rapidly growing business today. EPR Network is also known as one of the most trusted (human optimized, published, edited and monitored, spam/scam/low quality PR content free) PR sites on the web with more than 10,000 company and individual press releases distributed per month. EPR Network is putting your press releases on top of all major search engines’ results and is reaching thousands of individuals, companies, PR specialists, media professionals, bloggers and journalists every day.

EPR Network has thousands of clients around the world including global 500 corporations like Hilton Hotels, Barclays Bank, AXA Insurance, Tesco UK, eBay/Skype, Emirates, just to name a few. The network’s PR web sites are currently reaching from 150,000 to sometimes 500,000 unique visitors per month while our viral reach could possibly go to as much as 1M people per month through our presence across various social media sites. EPR Network was established in 2004 and as of May 2008 it had more than 800,000 press releases (pages) published on its network.

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