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GeTet > Bookkeeping

What Are Real Accounts? Overview, Types, & Examples

ContentWhat’s the difference between current and fixed assets?Accounts ReceivableRelax—run payroll in just 3 easy steps!Easy Examples of Bookkeeping for Small BusinessesA) Personal account : Examples of such accounts include an individual’s accounts (e.g., Mr. X’s account), the accounts held by modern enterprises, and city bank accounts. The accounting period started on January 1 and it will end on December 31. For example, if you pay salary in advance to a staff member, your accountant will open a wage prepaid account which is a representative personal account linked to the staff. Debit all losses and expenses in the general ledger and, on...

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How to Calculate Net Sales 2022

ContentSales DiscountsDirect sales revenueFrom Sales Revenue to Net IncomeDeductionsIs Sales Revenue the same as Gross Profit? Thus, you record sales allowance as a deduction from gross sales. In other words, the sales return and allowances account gets debited. If you don’t properly account for these adjustments, your gross profit will be overstated as will your total revenue number. This simple omission can cause incorrect financial statements, which leads to inaccurate financial ratios and misstated profit levels for your business. If not, we’ll explain the differences and show you how to calculate net sales.Net Sales is the sales or revenue that your...

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Virtual Bookkeeping Services Business Accounting

ContentWhy would you hire a professional bookkeeper?Starting Your BusinessMore time each daySupport to set up or use XeroMonthly Recurring BookkeepingBookkeeping Services 101: A Simple Guide to Small Business Bookkeeping for Owners If you want your business to save time and money then, yes, you should consider hiring a bookkeeping service. A bookkeeping service can help you stay organized and on top of your finances. With hundreds of bookkeeping options, it can be daunting trying to sort through them all and find the best one for your business. We’ve analyzed the best bookkeeping services, so you didn’t have to. What is...

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