In billing, a debit memo is “positive” because it increases the balance due, while a credit memo is “negative” because it decreases the amount owed. Recognizing these differences helps you accurately manage account balances, especially when reconciling or preparing financial statements. It adjusts an invoice amount when a customer requests a last-minute change to their…

In the vibrant realm of online entertainment, a thrilling selection of poker variations captures the essence of strategic play and chance. Players can immerse themselves in an array of options that challenge not only their skills but also their understanding of this beloved card pastime. The excitement doesn’t stop there; the wide range of table…

Once journal entries are made in the general journal or subsidiary journals, they must be posted and transferred to the T-accounts or ledger accounts. The left side of the T-account is for debits, and the right side is for credits. In double-entry accounting, debits and credits always need to balance out. While you are in a course like accounting basics,…

It is widely used for precise measurements in various fields such as engineering, construction, and science. In everyday use, millimeters help accurately size small objects like jewelry or electronic parts. The millimeter is crucial for achieving the precision necessary in many technological and scientific applications. Though $1mm represents one million dollars, inches measure bookkeeping and…

Cash flow focuses on liquidity and the movement of cash into and out of the business. It answers questions like how much cash is available to pay bills, salaries, or suppliers. Retained earnings, by comparison, are more of an accounting measure—they reflect cumulative profit but include non-cash items like depreciation. Consider a mid-sized manufacturing company…

Cash flow focuses on liquidity and the movement of cash into and out of the business. It answers questions like how much cash is available to pay bills, salaries, or suppliers. Retained earnings, by comparison, are more of an accounting measure—they reflect cumulative profit but include non-cash items like depreciation. Consider a mid-sized manufacturing company…

Sage 50’s deep capabilities should appeal if you run an expanding company and want all the accounting detail you can get, especially as it virtual accountant pertains to tracking inventory. It provides a useful, customizable dashboard, all the fields you could want on forms, and tons of exportable reports. That said, the more user-friendly FreshBooks…

Nexia earns 45% of their revenue from audit work, 26% from tax services and 29% from advisory services. Bench, a Canada-based accounting startup that offered software-as-a-service for small and medium-sized businesses, has abruptly shut down, according to a notice posted on its website. And then one more for everybody in this room, which is why…