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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. Real-time documentation ensures you always have the crucial information you need for complex audits and other data management demands.

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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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What Are the Types of Revenue Small Business Owners Need to Know?

Patriot Software

Learn how to record the types of revenue in different accounts. That way, you can keep your accounting books updated, organized, and legal. When you make a sale or earn money from another activity, you need to record it. What is revenue? Revenue, or sales, […] READ MORE.

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Tangible vs. Intangible Assets

Patriot Software

Understand the difference between tangible vs. intangible assets to keep your accounting books and financial statements accurate. All businesses have assets. Assets can be broken down into two categories: tangible and intangible. Tangible vs. intangible assets Both tangible and intangible assets add value to your business.

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Learn All About Allowance for Doubtful Accounts (Aka Bad Debt Reserve)

Patriot Software

Your accounting books should reflect how much money you have at your business. If you use double-entry accounting, you also record the amount of money customers owe you. When it comes to your small business, you don’t want to be in the dark. But, what happens if they don’t pay?