Accounting Tools

JULY 18, 2023

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook Journal entries are used to record business transactions. When goods or services are sold on credit, debit accounts receivable and credit sales. If a sale is for cash, then the debit is to the cash account instead of the accounts receivable account.

Petty cash 75

Petty cash Accounts Payable Accounts Payable Accounts Receivable 75

Accounting Tools

JULY 8, 2024

Includes cash in checking accounts, petty cash, and deposit accounts. Receivables. Includes trade receivables and receivables due from employees. For example, accounts receivable are usually classified as current assets, while fixed assets are classified as long-term assets.

Petty cash 74

Petty cash Computation Deposits Accounts Receivable 74

Accounting Tools

MAY 10, 2024

Includes bills and coins on hand, such as petty cash. Includes cash kept in depository accounts. Trade accounts receivable. Only includes receivables from the organization's customers. This is the bulk of all accounts receivable, though only if a company extends credit to its customers.

Petty cash 75

Petty cash Accounting Accounting Accounts Receivable 75

Accounting Tools

JUNE 8, 2023

Related Courses Accountants' Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook How to Conduct an Audit Engagement Records Management What are Source Documents? Cash Register Tape A cash register tape can be used as evidence of cash sales, which supports the recordation of a sale transaction.

Petty cash 75

Petty cash Invoicing Bookkeeping Reconciling 75

Accounting Tools

OCTOBER 3, 2023

Related Courses Bookkeeping Guidebook New Controller Guidebook A three digit chart of accounts allows a business to create a numerical sequence of accounts that can contain as many as 1,000 potential accounts.

Petty cash 40

Petty cash Computation Accounting Accounting 40

Accounting Tools

APRIL 16, 2023

Related Courses Bookkeeping Guidebook New Controller Guidebook What is the Chart of Accounts? The chart of accounts is a listing of all accounts used in the general ledger of an organization. The chart is used by the accounting software to aggregate information into an entity's financial statements.

Petty cash 40

Petty cash General Ledger Accounting Accounting 40

Accounting Tools

JULY 23, 2024

Related AccountingTools Courses Bookkeeping Guidebook Optimal Accounting for Cash Step 3. Apply Cash to Invoices Access the accounting software, call up the unpaid invoices for the relevant customer , and apply the cash to the invoices indicated on the remittance advice that accompanies each payment from the customer.

Deposits 40

Deposits Petty cash Reconciling Invoicing 40