Bookkeeping

This mistake disrupts your payroll process by inaccurately reflecting your financial obligations. When voiding a check in QuickBooks Desktop, navigate to the ‘Banking’ menu and select ‘Use Register.’ Locate the check you want to void and right-click to choose ‘Edit.’ Then, mark the check as void and save your changes. Zoho’s process is simpler than […]

The statement of retained earnings will include beginning retained earnings, any net income (loss) (found on the income statement), and dividends. The balance sheet is going to include assets, contra assets, liabilities, and stockholder equity accounts, including ending retained earnings and common stock. A trial balance is a report that lists the balances of all

It can be challenging to keep track of transactions and use the appropriate account for the HOA company. Therefore, if you are unsure which accounts to use or how to track these transactions, I recommend seeking guidance from an Accountant. In case you don’t have one, we can assist you in finding a ProAdvisor. If they

This entry records your payment by debiting your utility expense account and crediting cash. Using double-entry accounting, this process will need to be completed for each transaction that you record. The credit sale is reported on the balance sheet as an increase in accounts receivable, with a decrease in inventory. Selling goods or services on