Category: Bookkeeping

Most companies choose to combine returns and allowances into one account, but from a manager’s perspective, it may be easier to have the accounts separated to make current determinations about inventory. Whether or not a customer pays with cash or credit, a business must record two accounting entries. One entry recognizes the sale and the… Continue reading Purchase of Merchandise: What It Is, Accounting, Journal Entry, Example, Definition, Cash or Account

We recommend setting the opening balance at the beginning of a bank statement. If you’re reconciling an account for the first time, review the opening balance. It needs to match the balance of your real-life bank account for the day you decided to start tracking transactions in QuickBooks. If you adjusted a reconciliation by mistake… Continue reading Reconcile an account in QuickBooks Online

It will be the problem when it comes to different products type, as the accountant still allocates the same cost to all products. It is not make sense when two products consume a different level of overhead but have the same cost. It is hard to assess each department’s performance as the cost is calculated… Continue reading 5 1 Compare and Contrast Job Order Costing and Process Costing Principles of Accounting, Volume 2: Managerial Accounting

We help company’s financial activities and operations with full range of financial support . 80% of our customers agree that aenten save their up to 50% of money on taxes when done with aenten. A business owner needs to know these functions are handled so they can focus on growing their business. As your life… Continue reading 12 Best Kansas City Bookkeeping Services