Category Archives: Bookkeeping

Closing entries Closing procedure

We need to close the temporary accounts (revenue and expenses) and transfer the net income to Retained Earnings. We need to do the…
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What does an accountant do?

In accounting, you’ll come across certain titles which appear to bear similar duties but actually have unique job descriptions. In this section, we’ll…
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Affordable Pricing Plans For Your Business MBS

Like any advanced software, expect a steep learning curve if you’re thinking of keeping your own books. As part of our bookkeeping services,…
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What is Deferred Revenue: Deferred Income Accounting for Liability with Deferred Revenue Journal Entries

Your bookkeeping team imports bank statements, categorizes transactions, and prepares financial statements every month. That means you would make the following journal entry…
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