article placeholder

Knowing Your Debits From Your Credits

When a company's accounting system is set up, the accounts most likely to be affected by the company's transactions are identified and listed out. This list is referred to as the company's chart of accounts....
article placeholder

What Is The Average Collection Period?

The average collection period can be calculated using the accounts receivable turnover by dividing the number of days in the period by the metric. In this example, the average collection period is the same as...
article placeholder

Item Categories For Quickbooks Online

However, if you’re prone to forget details, it’s best to get everything you need in writing within a day or two. an appointment book entry alone (for expenses less than $75). Show that the expense was...
article placeholder

How Are Retained Earnings Recorded?

What Is Retained Earnings? The current period net after tax income is added to the beginning retained earnings balance. Dividends or owners' withdrawals are then subtracted from the new retained earnings...