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While this works well for small businesses with limited staff, companies anticipating rapid growth or needing multiple accountant or bookkeeper seats may find the cost of scaling a drawback. Automatic daily bank feeds in Xero optimise financial tracking by automatically
The amount recorded should be the actual cash received from the sale or disposal of the asset. If the machinery was sold for $25,000, the cash account would be debited by this amount. This debit entry increases the company’s cash
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