Budget assistant skills for your resume and career

Payroll is the sum of all the compensation that an organization has to pay to employees at a specified time. Payroll is managed by the finance or HR department while small business owners may handle it themselves. Payroll isn't fixed as it varies every month due to sick leaves, overtime, etc.

A financial system is an organized pathway for the exchange of funds in a financial market. It covers all aspects of funds sale, including loans, investments, and lending.

Budget preparation is a calculative process between the finance department and the spending department. It indicates the start of the budget process and supervises departments and agencies for developing revised assessments (for the past year) and budget estimates (for the coming year). Budget preparation makes the organization responsible for its expenses, lessens costs, and provides for a worst-case scenario. It works as an assessment tool that can visually explain if you have sufficient funds to operate or to grow.

Journal entries can be defined as an act of keeping or making records of any transactions either economic or non-economic. The journal entries are made in the accounting systems of an organization. The entries are filled with two main fields; debit and credit. The debit and credit must be equal at the end of a journal entry else it is not considered correct. The journal entries also keep the date of transactions and the names of the accounts that were affected by the transactions.

Budget Estimates refer to the projected financials of a company. Depending on what the company estimates it will make in profits, the budget estimates how much of that money will be spent on services, salaries, products, and the manufacturing process (if necessary). Sometimes called cash flow, this process helps companies both plan and create new monetary goals to complete.

When viewing one's bank account, the Account Balance is the information which represents how much money and of what kind is found on said account. It is often simply referred to as ‘the balance'.

A type of card issued by banks and other financial institutions, that enable users to manage and borrow their finances is called a credit card. The funds borrowed from a financial institution through a credit card are meant to be paid back along with certain amounts of interest imposed by the bank.

Statistical data is a numerical data collected by censuses and/or survey from respondents, or from administrative sources to be edited, imputed, aggregated, and/or used in the compilation and production of official statistics.

The type of agreement held between two parties (buyer and seller) regarding an exchange of funds for an asset, is termed as a financial transaction. The financial transaction is the exchange of products, services, cash or credit, information, and other things of value among two separate entities for a common goal.