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Nonprofits typically use a double-entry bookkeeping system, where every transaction affects at least two accounts. This system ensures that debits and credits are balanced and accurately represent the organization’s financial position. Nonprofits use a chart of accounts, a categorized list of all the accounts used to classify financial transactions. It includes cash, accounts receivable, accounts
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Our team has experience across a wide variety of industries, from well-established construction and real estate businesses to new companies in emerging markets including the brewery and hemp industries. Let’s take a look at some common outsourced accounting myths and explore how outsourced accounting service providers like our team at LBMC are addressing them to build a
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Larger organizations may have the internal resources to handle financial transactions and operations, but other entities may revert to and rely on software or training themselves. Without a trusted and knowledgeable partner, performing these tasks internally can lead to errors, lost business opportunities and audits. We strive to be an asset to your business beyond the
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But someone can make a full recovery and start withdrawing from alcohol. The key is to practice a few different remedies and get help from licensed alcohol treatment counselors. Alcohol misuse damages the brain over time, which leads to dementia. There are a number of things you can do to help reduce stress levels. These