Accounting

In the previous article we discussed about accounting fundamentals. Here we show you how to practically use these information for business decision making. Like before we are going to use Google sheets for demonstration. Google Sheet is a spreadsheet provided by Google which is alike the Microsoft Excel. Preparation of financial statements and other reports are not valuable if the users do not utilize them in the decision making process.

Bookkeeping is a continuous process of recording all kinds of financial related transactions of a company based on standard methods. It is mainly about recording, organizing, and classifying all financial transactions of an organization. This is useful for a business in order to manage expenses, to make cash flow decisions and to overall run the business more responsibly.