What does posting mean? The first step in accounting is journalizing transactions. When you put the entries into the journal, to figure out how much cash a company has or the balance in the Inventory account, you would have to go through a list of m... Read more
What are contra accounts?Contra accounts are simply linked to another account. They match up with a General ledger account to bring the balance of that account down. Items recorded in the contra account are specifically designed to offset other trans... Read more
Definition and meaningThe 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 ma... Read more
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... Read more
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,... Read more
Remote bookkeeping overviewThere 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 ch... Read more
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 av... Read more
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 me... Read more
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... Read more
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 i... Read more
