What is a Stock Card?
In First In First Out (FIFO) accounting, transactions can be quite complex and it can get messy if not managed properly. Hence, one option of keeping track of inventory is
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Accounting
Bad Debt Expenses Explained
Bad Debt Expenses happens when a sales receivable becomes un-collectible. This could be due to many reasons such as bankruptcy, run-away client etc. The fact is, the sales payment is
Understanding Cost of Finished Goods
The cost of the Finished Goods (FG) is not always straight forward as there are a few elements involved in the calculation. Here, we are trying explain the various elements
Automated Bank Feed – A Powerful Accounting Feature?
Want to automate your monthly accounting work? Had enough of digging through your bank statements and trying to reconcile RM5 from your statement? If yes, then SmartB bank feed might
Journal Entries
Recording transactions and using them as investigative tools is nothing new. In fact, this is a common exercise in accounting practices. Nearly all transactions are recorded as Journal Entries and
Credit Notes vs Debit Notes
What is a Credit Note?
A Credit Note is a memo prepared and issued by one party to the other party, containing the details of the amount credited. It is usually
What is a Receipt Voucher?
In the simplest term, a Receipt Voucher (RV) is a proof of a monetary receipt issued by the company. It is also a form of money tracking mechanism. This receipt
Payment Vouchers – What are they?
Essentially, a Payment Vouchers (PV) is a proof of a monetary payment issued by the company. Like the Receipt Voucher, it is also a form of money tracking mechanism. However,
Banks and Bank Account Format
Bank Account Format differs between banks. This following list shows the banks in Malaysia and its respective bank types/formats. This is for reference only.
Source: Maybank website
What is a Lock Date in Accounting?
Imagine this? You run a business and you have a team of accountants preparing your financial records for you. Typically, you would allow some accounting adjustments even after the reporting
What is a Chart of Accounts?
A chart of accounts (COA) is a financial organizational tool that provides a complete listing of every account in your financial system. In other words, it is a map of
Benefits of Accounting in the Cloud
If you want to increase your accounting department’s abilities and lower costs, consider joining the many businesses that are turning to cloud-based solutions. Like other types of software-as-a-service (SaaS), benefits
4 Guaranteed Major Cost Savings
Freak out by the initial investment that you may need to use an ERP system? Had enough of ADMIN and PAPERWORK which end up costing your more money? Are you