Category Archives: Bookkeeping

Which One Of The Following Represents The Expanded Basic Accounting Equation? A Assets = Liabilities + Owner’s Capital + Owner’s Drawings

Content What Is The Expanded Basic Accounting Equation? What Is The Expanded Accounting Equation For Partnership? Accounting Equation Components How To Present An Increase In Intangibles In Cash Flow Statement Another Way To Look At The Equation It Is: Short and long-term debts, which fall under liabilities, will always be paid first. The remainder of […]

BooksTime Accounting Software Review

Content Growing Bills All BooksTime Features Benefits Of BooksTime Features Of BooksTime It’s less about features (although Cash Coding and Find & Recode are brilliant) and more about design choices. It also isn’t “professional” double-entry bookkeeping and can’t be audited. Outright can’t handle Cost of Goods Sold properly and requires manual workarounds. It can’t generate […]

Quickbooks Desktop, Compare Quickbooks Pro, Premier And Enterprise

Content Quickbooks Online Plans And Features Quickbooks Online Integrations Intuit Launches New Quickbooks Insurance And 401k Services Scalability And Suitability For Different Business Sizes Quickbooks Online Vs Desktop 2021 Compared: Which Is Right For Your Business? Compare Quickbooks Online Payroll Plans You can also print out financial statements to get a visual of your company’s […]

What Is Accounting? The Basic Accounting Equation

Content Should You Get Into Accounting? How To Define Accounting For Business Golden Rules Of Accounting Professional Qualifications Translating Accounting Lingo For Small Business Owners Tax Accounting I cover various small business topics, including technology, financing and marketing on business.com and Business News Daily. Market-value ratios measure a company’s economic status against other companies in […]

The Fundamental Principles Of Accounting

Content Building Blocks Of Gaap Generally Accepted Accounting Principles Why Are Generally Accepted Accounting Principles Needed? Full Disclosure Principle Of Accounting Understanding 10 Of The Most Important Accounting Principles Understanding The 10 Fundamental Accounting Principles Governments and public companies abide by these accounting principles to ensure all documents present consistent, accurate, and clear reports. GAAP […]

3 5 Use Journal Entries To Record Transactions And Post To T

Content Stay Up To Date On The Latest Accounting Tips And Training Financial Ratio Analysis Accrual Income Statement Ais Accounting Equation Frequently Asked Questions The Profit And Loss Account The Top 25 Tax Deductions Your Business Can Take For example, the service industry typically has 15% to 30% margins. If either company, ABC Corp. or […]

What Is The Income Summary Account?

Content Income Summary Account Example Closing Process Explanation Closing Entries What Happens When A Business Revenue Account Is Closed? Closing Entry Definition Explanation And Examples Is Unearned Revenue A Liability? Accountingtools Temporary accounts are used to record accounting activity during a specific period. All revenue and expense accounts must end with a zero balance because […]