Bookkeeping 101

Here, Steve will credit the interest payable account with the amount of interest due, which, in this case, amounts to $2,000. Account Title Debit Credit Cash $5,000 Notes Payable $5,000 Then, the interest amount of $50 will be recorded as a debit to …

The exact control steps depend on whether a company is using mainframe computers and minicomputers or microcomputers. Because board members have a working knowledge of the functions of the company, they help shield the company from managers who try t…

According to ZipRecruiter.com, the national average salary for an Enrolled Agent as of July 2019 is $57,041. Jobs paying $41,500 or less are in the 25th or less percentile range, while jobs paying more than $64,500 are in the 75th or more percentile …

Your company’s balance sheet must adhere to its governing accounting equation of assets equal liabilities plus owner’s equity. The balance sheet reveals the assets your company owns, the debts and other liabilities it owes and its obligations to you …

There are various formats for creating a Horizontal Analysis but the most popular is to display the variance between Income Statements in dollar amounts and percentage. The difference in percentage is computed by taking the dollar difference in an In…

You can elect to post the entry or simply enter it as a past entry. Journal entries can be archived for resue in subsequent years….

Zuora will run a trial balance automatically when you close an accounting period to create a record of the closed period that will not change, and can be used for auditing purposes. However, you can also run a trial balance manually to be sure that t…

Our online accounting software is the same no matter where you access it from. You can use it on a laptop, smart phone, mobile device, and multiple operating systems. wave accounting software is totally free, stable, and accountant-approved….

You click on the gear icon in the upper right corner and select Account and Settings. Intuit QuickBooks Online then displays a series of sectional tabs on the left (Company, Billing & Subscription, Usage, Sales, Expenses, Payments, and Advanced)….

This is placed on the debit side of the Salaries Expense T-account. Let’s look at the journal entries for Printing Plus and post each of those entries to their respective T-accounts. Let’s look at one of the journal entries from Printing Plus and fil…