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Credit sales refer to the purchases that the customers make with delayed payment. As the customers do not need to make the payment immediately after the …

Deferred expenses are the costs that a company has incurred, yet it has not consumed those costs. When the bookkeepers from a bookkeeping firm in Singapore …

Do you know that some accounts will usually have debit balances, while some will typically have credit balances? In accounting, having a debit balance means …

In general ledger accounts, there are two types of balances. To find out the type of balance a ledger has, one should determine the side of the ledger that …

It is common for business owners to incur expenses almost every day. To make sure that they…

The gross margin shows the amount that a business has earned from selling its products or services before deducting any selling and administrative expenses…

You may perceive the accounting cycle as a series of events which play an essential role in determining, documenting, and analysing the information about …

For most people who are not familiar with documents used in business transactions, invoice and receipt seem to be the same document as they do not know the …

As a business owner, do you know how you should record the accounting entries? Understanding the correct way of posting the entries in your books of …

Bookkeeping is the process of recording daily business transactions that have taken place in a company. Such transactions include the receipts, payments…