Account Name Normally Debited / Credited Nature of Account Type of Account Rule / Notes Assets Cash A/c Debited Asset (Current) Real Debit what comes in — increases cash balance. Bank A/c Debited Asset (Current) Real Debit when bank deposits […]
What is accounting and why does it matter? What is accounting? Accounting is the process of recording the financial transactions of your business. The accounting process is an important function of business as it reveals financial inconsistencies and redundancies which […]
Accounting for Small Businesses Understanding accounting is one of the most important parts of running a successful small business. Whether you’re tracking expenses, planning growth, or preparing for taxes, good accounting keeps your business organized and profitable. What is Accounting […]
Basic Guidance on Accountancy Understanding the fundamentals of accountancy is essential for anyone involved in business, finance, or bookkeeping. Every financial transaction in accounting is recorded under specific types of accounts, and knowing how to classify them correctly helps maintain […]
Difference Between an Accounting Voucher and an Invoicing Transaction Understanding the distinction between Accounting Vouchers and Invoicing Transactions is essential for efficient financial and inventory management. While both record financial activities, they serve different purposes within an accounting system. Accounting […]
All the businessmen after completion of posting from journal or subsidiary books to the ledger want to verify the accuracy of the posting. For this purpose, our statement is prepared wherein the balances of all the a/c in the ledger […]
As per the details found, we have listed the fiscal years of the countries below. So have a look to “Country wise fiscal years”
An accounting period, in book keeping, is the period with reference to which accounting books of any entity/company are prepared. An accounting period is the span of time covered by a set of financial statements. This period defines the time […]