Bookkeeping

So you may need to give your employer a voided check to set things up. As paper checks become less common in banking, organizations that normally require a voided check may be more receptive to […]

Never give anyone a blank check, especially someone you do not know because it could be used to make a withdrawal on your account. Discover https://www.bookstime.com/articles/suspense-account what FDIC insurance is, its limits, and the types […]

By taking the time to prepare and choose the right bookkeeper, you can ensure that your experience is positive and productive. When you outsource bookkeeping, make sure you know what you need, and then do […]

You will have a more consistent income especially if you choose to go with monthly packages. A lot of people often wonder how much to charge for bookkeeping services. One of the best ways to […]

The only drawback of paying a full-time accountant is that you may need to offer them employee benefits. Outsourcing accounting services allows you to reap the benefits of an accountant without the costs of a […]

If a company uses the net method, but fails to remit the net amount within the discount period, the net method requires a debit entry to the expense Purchase Discounts Lost. In our example, if […]

However, under the net method, we need to record adjusting entries to recognize the loss of the discount. In contrast, there is no journal entry is required under the gross method as the transaction was […]

Content An Income Statement Transaction Example Purchase with the ProCard Types of general ledger accounts Assigning major and minor categories to account part instances 5.1 Miscellaneous Debit to a General Ledger Account What is a […]