Your chart of accounts (COA) is the list of all the accounts in your accounting software. The accounts that are all listed in your reports. And their totals allow you to evaluate how much has been spent, made, own or owe, depending on the type of account....
We very well know what is accounting about. We have been accounting since we were kids. Remember, when we helped in household work and mom rewarded us with cash? Or when we planned to save enough to buy our wished toy. Or went to the ice cream parlor to buy our...
Ensure that you take advantage of all the business tax deductions commonly available to small entity owners. We provide an exhaustive list of these plans below and explain them so you don’t miss them. Bookmark the article to be able to easily return and check....
Depreciation is one of the methods by which your accountant will distribute the cost of a fixed asset over its assumed useful life. So instead of deducting the total cost as an expense in the year of the purchase at once, this business expense is divided into smaller...
“Debits credits: A Simple Guide to double-entry accounting “Whenever we talk about debit and credits the one line comes in mind Debit what goes out and credit what comes in”. But where these terms are applied? Accountants and Bookkeepers use these...
A balance sheet is a statement depicting the assets, liabilities and shareholder’s equity of a business at a specific point in time. They are a snapshot of what your business holds and how much it owes as well as the amount invested by its owners, reported on a...
