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A payroll number is a unique identifier assigned to each employee in an organization to simplify payroll processing. It is essential for tracking employee payments, tax contributions, and benefits accurately. Payroll numbers help streamline administrative tasks by ensuring quick and error-free ident...

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Accounts receivable (AR) refers to money owed by a company's customers for goods or services that have been delivered but not yet paid for. Recorded as a current asset on the balance sheet, AR is important because it shows a company's ability to raise capital and maintain cash flow. Effective AR ma...

There are two primary methods of bookkeeping : There are two types of accounting systems which are single journey and switched double journey. Single entry systems are even simpler than double entry, for every transaction is recorded only once. It is most often used by small companies that have litt...