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How to Make a Journal Entry for Sales in Your Books

Patriot Software

And when you make a sale, you need to record the transaction in your accounting books. Ten out of 10 businesses sell products or services. How comfortable are you with making a journal entry for sales? How you record the transaction depends on whether your customer pays with cash or uses credit. Read on to […] Read More

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What Does Fixed Assets Software Do?

CPA Practice

Improve cross-department data sharing and visibility Today there’s a greater need for real-time visibility between departments that handle tax and GAAP accounting books. ABOUT THE AUTHOR: Evan Croen is senior vice president of product for Bloomberg Tax & Accounting.

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Transposition Error, the Little Mistake That Causes Big Problems

Patriot Software

Mistakes happen, especially when it comes to recording transactions in your books. One type of accounting mistake thats easy to make is a transposition error. Read on to learn what is a transposition error and how it can affect your accounting books. What is a transposition error?

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New Book Focuses on Mental Health for Accounting Pros

CPA Practice

Kristy Short writes about one of the most unspoken truths in our profession: that anxiety, depression, and burnout pervade todays workplace.

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Accounts Payable vs. Accounts Receivable

Patriot Software

As a small business owner, setting up your accounting books and maintaining accurate records is essential. To make that happen, you need to be familiar with accounts payable and accounts receivable. What is the difference between […] READ MORE.

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Unlocking the Language of Accounting: Understanding Common Terms

SMBAccountant

Accounting operates within its own language, a system of terms and conventions that serve as the backbone of financial communication and analysis. Cash vs. Accrual Accounting Cash accounting records transactions only when cash changes hands, providing a real-time view of cash flow.

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Backed up Bookkeeping – 5 Tips on Managing Your Accounting

MyIRSRelief

If you’re running your own business, in Los Angeles, or Orange County, regardless of how large or small your company is, you simply must ensure that you have your books and accounts in order. Here are several tips on managing your accounting. Hire a professional accountant to do it for you. Keep your records organized.