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What is a Sales Journal?

What is a Sales Journal?

Definition and meaning The Sales Journal is an accounting journal used in the accounting system that is dedicated to keeping track of the sales items that debtors have purchased on account. In other words, this journal is used every time a business makes a sale on the account.  A customer comes in to purchase something, […]
How to Fill Out a W4 in 2021: A step-by-step guide

How to Fill Out a W4 in 2021: A step-by-step guide

What is Form W-4? Form W-4 is an important document for every US employee (including a Work and Travel program participant who works for a US company). Completing Form W-4 is required to determine which taxes will be withheld from your earnings on a weekly or monthly basis. It ensures that the company they work […]
Real Estate Bookkeeping Basics and Finance Management

Real Estate Bookkeeping Basics and Finance Management

Why do you need real estate bookkeeping? It is no longer a secret for anyone that each area of ​​business has its own specifics. This includes the organization and maintenance of bookkeeping records. However, when it comes to real estate bookkeeping, especially a wide-profile real estate agency, there are many things that need to be […]
Remote bookkeeping - Definition, How it works, and more

Remote bookkeeping – Definition, How it works, and more

Remote bookkeeping overview There are several options for organizing bookkeeping in an enterprise. When choosing the optimal format, first of all, one should focus on the scale and characteristics of the organization’s activities. Increasingly, the choice is made in favor of remote bookkeeping. Remote bookkeeping can be done by a freelancer or an outsourcing company.  […]
Wave Accounting Review: Features, Pros, and Cons

Wave Accounting Review: Features, Pros, and Cons

Are you looking for a bookkeeping solution you can use to keep track of your money, invoice your clients, collect payments, and take care of other bookkeeping and accounting tasks, then this Wave Accounting review will tell you about a free option available on the market for your consideration..  Overview Wave is free software that […]
Retained Earnings Calculation

Retained Earnings Calculation

Both investors and company managers are interested in profits that are later distributed as dividends and kept as retained earnings. Before talking about retained earnings calculation, we want to ensure that you have a clear idea of what this term means. Retained earnings represent part of the equity that was not distributed to shareholders as […]
Retained Earnings Equation

Retained Earnings Equation

A market economy is always characterized by the competitive relationships of various enterprises with each other. In the financial statements, the most crucial factor is profit. The work efficiency of a business entity reflects its positive dynamics in comparison with other economic features. This can be seen and analyzed with the help of its financial […]
Balancing off Accounts

Balancing off Accounts

Final entries in the accounts after the end of the annual accounting cycle. At the end of the year, based on the full inventory, the account entries are updated, and the turnover and balance are displayed for them. However, many accounts are closed in this period. This process is called balancing off accounts.  What is […]
What is QuickBooks

What is QuickBooks

Accounting is one of the most important divisions of any enterprise responsible for the accuracy of a wide range of business processes. The specialist has to deal with:

  •  the execution of orders;
  •  cost allocation;
  • document management;
  • financial flow control;
  •  reporting;
  •  analysis, and many other operations. 
What is the Accounting Cycle

What is the Accounting Cycle

The accounting cycle refers to a cyclical and systematic workflow followed by bookkeepers. The processes involved in the cycle are essential to comprehensively record, identify, and synthesize a business’ financial transactions. This came to be every bookkeeper’s guide religiously practiced and observed throughout the year to prevent record errors. In line, its purpose is invaluable as it formally keeps financial statements and other details accurate.