The main thing you need to know about journal entries in accounting is that they all follow the double-accounting method. Accounts payable would now have a credit balance of $1,000 ($1,500 initial credit in transaction #5 less $500 debit in the above transaction). Entry #4 — PGS purchases $50,000 worth of inventory to sell to…

Know what’s in stock and what’s on order all in real time. Solves the tedious process of accessing data for you and your clients. The software is very easy to use, even for people who do not have an accounting background. Manage your firm’s books with the powerful features of QuickBooks Online Advanced. Connect seamlessly…

Driver-based budgeting helps your nonprofit align its financial planning with operational activities, making adjusting to changes and improving decision-making easier. Creating and sticking to a nonprofit budget will put your organization in a healthier financial position. As a result, you can spend less time worrying about your nonprofit’s expenses and more time helping your beneficiaries….