Sales What is Sales? A Practical Guide [For 2021] “Sales” is a term that covers all activities related to selling goods or services to customers or businesses. Usually, depending… 8 min read 6 hours ago
Invoicing VAT Invoice: Definition & Rules for VAT Invoicing While businesses located in the US are imposed a retail sales tax, many other countries across the world are subject… 10 min read a day ago
Accounting Reports 3 Main Accounting Reports for Small Businesses As businesses operate, they engage in multiple financial transactions that generate revenue, incur expenses, increase inventory, and so on. All… 9 min read 2 days ago
Accounting What Is a PO Number & How to Create It The purchase order is the official request and confirmation of a customer’s purchase. It details the specifics of an… 7 min read 3 days ago
Accounting What Are Adjusting Entries? Definition, Types, and Examples The life of a business is divided into accounting periods, which is the time frame (usually a fiscal year) for… 9 min read 4 days ago
Accounting Accounting Basics: Debit and Credit Entries If there is one accounting notion that mostly confuses accounting beginners it’s learning how to make debit and credit… 7 min read 5 days ago
Accounting Questions Is Service Revenue an Asset? No, service revenue is not an asset. Assets are defined as resources with economic value that a business owns. Whereas… 4 min read 6 days ago
Accounting Questions Is Unearned Revenue a Liability? At the end of every accounting period, businesses need to make adjusting entries in order to accurately prepare their financial… 5 min read 7 days ago
Accounting Journalizing Transactions: Definition and Examples Journalizing transactions is the process of recording and tracking any transaction that your business performs. This recording is the building… 11 min read 8 days ago
Invoicing Purchase Order vs Invoice: What’s the Difference? People often confuse a purchase order with an invoice and use the terms interchangeably. Although purchase orders and invoices contain… 6 min read 9 days ago
Accounting Questions What Type of Account Is Unearned Revenue? You’re probably thinking: unearned revenue has to be a revenue account, right? The word revenue is in it! Well,… 5 min read 9 days ago
Accounting Questions Is Equipment a Current Asset? Current assets are short-term assets that are easily convertible into cash within a year. Equipment, however, isn’t meant to… 5 min read 25 days ago