Business Accounting Blog

In business, there are usually two statements on money management: accounting and finance. Accounting statements are created to submit to the tax services, and financial accounting helps to see the real situation with money in business and make decis…

An accounting journal is defined as a record in which any financial transactions of a company that occurs are entered before they are posted to ledger accounts, also called the book of original entry. Why is it important to record transactions? There…

A ledger account is any account that is included in bookkeeping ledgers. …

Retained earnings are a liability because they are effectively an unfulfilled obligation to business owners. Ideally, the money should be paid as dividends to the owners and put into development. Similarly, a liability is an uncovered loss, which is …

There are three QuickBooks online subscription plans: Easy Start, Essentials, and Plus. What is QuickBooks Easy Start plan? Information about plans is conveniently presented on the official webpage….

The principle of the chronological record is demonstrated in the Daybooks….

In everyday language, insourcing is what we do ourselves. Outsource accounting is what we get from third-party performers. The organization can organize any of its business processes according to both schemes. Each of them has its pros and cons….

In the beginning, when there are few documents (and free money), owners can do wage accounting on their own. Usually, owners record debits and credits in Excel and work with documents using simple programs. These tools perform one task: they help to …