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
Accounting
Articles from Deskera on everything related to accounting, accounting practices, and accounting concepts, covered from a business owner's perspective.
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Latest Posts
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
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
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
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
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
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
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
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
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
Is Inventory a Current Asset?
Yes, inventory is considered a current asset. Current assets or short-term assets are accounts that track what a company owns…
5 min read
Is Accumulated Depreciation an Asset?
No, accumulated depreciation is not considered an asset account. In fact, it’s quite the opposite. Accumulated depreciation is a…
5 min read