Accounting

Accounting

Periodic Inventory System: Definition and Calculations

Small merchandising businesses can track their inventory with an inventory management approach known as the periodic inventory system. Under a…

9 min read Mar 20, 2021

Accounting

Cash Accounting: Small Business Guide with Examples

Cash accounting, or cash basis of accounting, is the simplest method businesses can use to recognize their finances. Under cash…

8 min read Mar 19, 2021

Accounting

Accrual Accounting Explained: Definition, Pros, Cons, & More

Accrual accounting is the standard accounting method most businesses use to recognize their financial transactions. Under accrual accounting, revenue is…

9 min read Mar 13, 2021

Accounting

Provisions in Accounting: Meaning and Types

In the business world, some costs are unavoidable, whether it be from a customer not paying their outstanding invoice [https:…

8 min read Mar 11, 2021

Accounting

Why Your Small Business Needs a Cloud Accounting Software?

Accounting is the process or activity of recording all financial transactions related to a particular business entity. It involves keeping…

12 min read Mar 6, 2021

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 [https://www.deskera.com/…

9 min read Feb 27, 2021

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 Feb 25, 2021

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 Feb 24, 2021

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 Feb 23, 2021

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 Feb 22, 2021

Invoicing

Purchase Order vs Invoice: What’s the Difference?

People often confuse a purchase order with an invoice [https://www.deskera.com/blog/what-is-an-invoice/] and use the terms interchangeably.…

6 min read Feb 20, 2021

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 Feb 20, 2021