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An in-house bookkeeper gives you continuity and knows your business’s finances well. Outsourcing bookkeeping services, on the other hand, offers flexibility and can save you money. Explore the vital role of a full charge bookkeeper, focusing on their key duties and the essential skills needed for effective financial management. This training may include learning how […]

As the next accounting period starts, reopen the permanent accounts by placing their balance to their normal sides. After all income statement accounts are closed to the income and expense summary account, the latter’s balance will determine whether there is net income or net loss. All temporary accounts with a credit balance, particularly the income