Accounting

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

Accounting Questions

Is Equipment a Current Asset?

Current assets [https://www.deskera.com/blog/assets/] are short-term assets that are easily convertible into cash within a year.…

5 min read Feb 4, 2021

Accounting Questions

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 Feb 2, 2021

Accounting

What Is a Non-Cash Expense? Meaning and Examples

When we think of expenses, we usually also think of the money needed to pay for them. In accounting, however,…

8 min read Jan 29, 2021

Accounting

What Is a Business Expense? Know Your Deductibles

When running a small business, expenses are inevitable. After all, you have to spend money to make money. The good…

8 min read Jan 28, 2021