Accounting Basics for Small Business: A Simple Guide
Snyder
JUNE 20, 2022
Following the double-entry accounting method, you need to record the sale amount in your cash account as an increase (or debit) and as a decrease (or credit) in your inventory account. The double-entry method is more accurate and less error-prone, as it provides a detailed view of how the money moves throughout your business.
Let's personalize your content