Accounting Basics: T Accounts
One of the fundamental principles of financial accounting is the T account.
A T account resembles the letter T and…
9 min read
Bookkeeping
Bookkeeping
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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…
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What Are Trade Receivables? Definition & Examples
Trade receivables are the sum of money your customers owe you for buying goods
and services on credit. These amounts…
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Bank Reconciliation: How It Works and Why It’s Important?
A bank reconciliation is a schedule that explains any discrepancies between the
balance on the bank statement and the balance…
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What Is Liquid Net Worth? Definition and Calculation
Not all assets can be easily liquidated. Usually, high-value fixed assets
[https://www.deskera.com/blog/fixed-asset/] such as buildings,…
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Payback Period: Definition, Formula & Examples
Ideally, businesses would pursue all projects and opportunities that hold
potential profit and enhance their shareholder’s value. However, there’…
6 min read
What Is Accumulated Profit? Definition & How It Works
An essential amount that corporations need to calculate at the end of every
accounting period, is their accumulated profit.
Accumulated…
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Operating Income: Definition, Examples & Calculation
If you’ve ever looked at an income statement [https://www.deskera.com/blog/income-statement/],
you’ve probably noticed “operating…
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The Basics of Cost Accounting
All types of businesses, whether they provide services, manufacture products, or
sell merchandise have costs, and thus, require cost accounting…
8 min read
Accounting Basics: The General Ledger
In bookkeeping [https://www.deskera.com/blog/bookkeeping/] every financial transaction, whether
it’s a sale of merchandise, purchase of…
9 min read
Net Salary: Definition and Calculation
Net Salary is a key financial term you need to understand before setting up
payroll for your employees.
Net salary…
5 min read
Statement of Account: Definition, Importance, Components
In an ideal world, everyone respects their deadlines.
In the real world, however, clients might not be able to meet…
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