How to Number Your Chart of Accounts A standard chart of accounts (or COA) is organized according to a numerical system. The Chart of Accounts numbering convention states that each major category will begin with a certain number, and then the sub-categories within that major category will all begin with the same number. If assets […]
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Understanding Account Types used in the Chart of Accounts This article explains the use of Chart of Accounts – Account Types. Here, various account types are defined and explained. We will explain what the (Chart of Account) account types are and how to use them to keep your contracting company’s finances organized and accurate. This
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Top Reasons Your AR Aging Report Does Not Match Your Balance Sheet There are several reasons the AR Aging report is not matching the Balance Sheet. Generally, it is a date timing issue. The Balance Sheet strictly looks at the transaction date while the AR Aging reports look at the transaction debit date, the transaction
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Introduction A small business may choose to use a line of credit to cover short term cash shortages. Lines of credit can take many forms. Generally, a company makes a request to borrow money against its line of credit via fax or email. The money is then electronically deposited into the company’s bank account. The
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Introduction In Total Office Manager, you can send text message alerts to mobile devices by email using email-to-SMS addresses. An email-to-SMS address typically consists of a 10-digit mobile phone number and the mobile carrier’s domain name, in the following format: 1234567890@carrierdomainname.com. When you send an “email” to these addresses, they arrive as plain text messages.
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Job Costing Basics in Total Office Manager This help topic explains how to perform job costing using in the Total Office Manager software program. This article assumes that you understand the basics of job costing. To learn more about the overall concept of job costing, please read our article titled: Job Costing Concepts Explained (an
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How to Manage Barter Exchange Transactions These instructions cover how to use barter exchanges within Total Office Manager. The most common scenario is an even exchange of goods/services at one time and more rare scenarios in which goods/services are fulfilled by one party at the time of exchange, but the other party makes full repayment by
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Introduction This help topic covers trouble-shooting your Caller Identifier hardware. This is an optional device that connects to your telephone system. This hardware works in conjunction with our Caller ID Server. Please note, at this time, the Caller ID functionality exists for our on premise customers only. Warning This is an advanced topic designed for
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Introduction to Sales Commission Methods Sales and Invoices include a Sales Commission Tracking form where employees are selected to receive a commission. Commissions are calculated by selecting employees on Sales/Invoices and using pre-defined calculation methods. When processing payroll, these employees and their commissions are selected and may be edited or changed prior to the creation
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Understanding the Rounding Accounts on Financial Statements This knowledgebase article explains why the income statement and balance sheet (might) contain an account called “Rounding” and what you may do to reduce that amount. Why Rounding is a Problem All accounting software struggles with the problem of rounding. Rounding situations most often occur when calculating taxes
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