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QuickBooks is a powerful accounting program for small businesses, but if you need support using the software you may want to find a QuickBooks ProAdvisor to help. A QuickBooks Certified…
A closing entry is a journal entry made at the end of accounting periods that involves shifting data from temporary accounts on the income statement to permanent accounts on the balance…
In the cloud, you have access to your business data any where with an internet connection, on any device. All your data is in one place so you’ll always have…
General economic conditions could be impacting customer cash flows, requiring them to delay payments to their suppliers. This issue is a major one, since the problem arises entirely outside of…
An adjusting entry dated December 31 is prepared in order to get this information onto the December financial statements. The main differences between debit and credit accounting are their purpose…
Check out our article on adjusting journal entries to learn how to do it yourself. A journal entry is a record of the business transactions in the accounting books of…
In the double-entry accounting system, transactions are recorded in terms of debits and credits. Since a debit in one account offsets a credit in another, the sum of all debits must equal the…