![]() Virtual bookkeeping: This is the most lucrative and the most opted out method in the recent times which makes it easy & convenient to manage your bookkeeping of accounts.You just need to put in the information and the software will prepare the necessary documents you need. There are various bookkeeping software service providers in the market which will help to prepare all the ledger/accounts. Bookkeeping software: As its name suggests, it is completely based on Information & technology.Hence it overcomes the drawbacks of single entry system. This system posts a single credit transaction in one account and its debit effect is also reflected in a corresponding account which creates a balancing effect. Double-entry system: It involves those businesses which have a large and complex transaction on a daily basis.Under the single-entry bookkeeping system, the transactions don’t match with the corresponding accounts. Under this system, a cash sale/business expense is recorded when they are actually incurred or paid. ![]()
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