Archivio Categoria: Bookkeeping

How to outsource your bookkeeping Melio Blog

You have worked long hours to get to the point where you could start your own business. Today’s technology lets recipe developers earn miles on business purchases. This means huge savings on traveling to the places that inspire their flavors. Free up valuable time and resources to concentrate on strategic business activities. Automation and advanced […]

What is a Suspense Account? Examples Included

Similar to the other types of suspense accounts, brokerage suspense accounts temporarily hold funds while transactions are completed. A suspense account may also be established if further information is needed to finalize the transaction or if there are other complications that need to be resolved. Regardless of the issues in question, suspense accounts are cleared […]

Are Accruals Current Liabilities: A Financial Perspective in Procurement

Recognition of accrued liabilities requires periodic adjusting entries. Failure to recognize accrued liabilities overstates income and understates liabilities. Therefore, the value of the liability at the time incurred is actually less than the cash required to be paid in the future. These notes do not specifically mention the rate of interest on the face of […]

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