A system to simplify your home business accounting Accounting system for home business It is not unusual to become terrified to see the pile of papers on your table at home, doesn’t know how to deal with those papers, and the tax filing date is around the corner. Do not panic; […]
Accounting for Bad debts in business. Accounting for bad debts in business is crucial. If not, you will not know the exact profitable amount in your industry. Bad debt expense relates to accounts receivable; these expenses are doubtful customer payments. Even in a prosperous economy, business failure is common, and businesses […]
Costing & Pricing of product or service Costing & Pricing of product or serviceThe costing and pricing of a product or service must be done without errors because of the possibility of losing money in the long run. Costing is a separate subject, as many different methods of allocating costs to […]
What is the use of control accounts? One of the main benefits of constructing control accounts is that it can help to restrict errors. It saves time as the location of errors takes a considerable time to find the mistakes after extracting the trial balance. First, you have to learn What […]