Categorie archieven: Bookkeeping

Work in process Wikipedia

Content What Exactly is Work In Process Inventory (WIP)? How to Calculate the Beginning Work-in-Process Inventory Work-in-Process Inventory Management More terms and formulas Work in process inventory formula in action How to Calculate Ending Inventory Using Absorption Costing Ideally, work-in-process inventory should be so minuscule that materials can move easily between work stations without impeding […]

What does an accountant do?

Content How Can I Advance My Career? The accounting cycle Why accounting matters for your small business What Jobs Can I Get with an Accounting Degree? Definition of Accounting Accountants provide financial advice and they help businesses to manage their money and maximise profits. The job will involve preparing financial reports, checking the accuracy of […]

Debits and Credits in Accounting: A Simple Breakdown

Content Normal account balance definition CUSTOMER SERVICE Example Transactions With Debits and Credits What is the normal balance for an asset account? a. Debit b. Credit Types of Assets Normal Balance of an Account The debit balance will decrease with a credit to Cash for $800. Since assets are on the left side of the […]

Should Your Law Firm Be Using QuickBooks?

Content 2021 for Attorneys at Law QuickBooks Online vs. QuickBooks Desktop: Support The Top 5 Reasons Lawyers Are Switching from QuickBooks Accounts Receivable reconciliation so opening balances can be established in QuickBooks Online. What is QuickBooks? Xero Features Want to learn more about why lawyers are switching from QuickBooks, and what they might choose instead? […]

Cash Receipt Journal Definition, Format & Transaction Examples

Content How do you write a receipt for a cash payment? Benefits of tracking cash receipts Company Cash Receipts Journal Overview Stay up to date on the latest accounting tips and training Keeping Special Purpose Journals: An Introduction to Bookkeeping Posting to the accounts payable ledger should be made at the end of the month. […]

Career Alternatives for Accountants

Content Linda Raynier CPA, CA What Are the Benefits of CPA Certification? The Right Time to Consider a Change Use Your Passion For The Industry In most jurisdictions, candidates for CPA certification need a minimum of two years of work experience in public accounting, according to the American Institute of CPAs. To move from public […]