Accounting basics

Every business needs to have a list of chart accounts. With that, if you still don't have one, here are some examples you can take into consideration in terms of your business accounting! #chartsofaccounts #accounts #business

Balance sheets along with income statements are statements that are not only used to evaluate the health and financial position of a business but are the primary statements that lenders and investors will look at. In our previous article, we talked about creating an internal income statement to analyze our financial data. Here we will discuss the […]

We’ve demystified the balance sheet by outlining key terms and performance indicators in one infographic.

Top 10 Examples of Journal EntryAn example of a journal entry includes the purchase of machinery by the country where the machinery account will be debited, and the cash account will be credited.The following journal entry examples in accounting provide an understanding of the most common journal entries used by business enterprises in their day-to-day financial transactions. It is the summary of debits and credits of financial transactions with a note of which accounts these financial…

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Debit and credit are two sides of the same accounting entry. These are the fundamental “effect” of each financial transaction. For maintaining correct accou

In this world, all the accounting software use debit and credit tools of accounting system. To know the debit and credit and their difference is necessary to pass correct journal entries in the your accounting software. If you still do not know the difference between debit and credit, there is chance of mistake of wrong debit or credit to any account. Due to this, your accounting statement will not show true financial results. So, today, we are trying to teach the differences between debit…

Learn What is a Balance Sheet, Balance Sheet Definition, Financial Statements, and more simple, visual, stress-saving tips from Napkin Finance