Transaction analysis definition, explanation, steps, example

For example, if there is an increase in an asset account, then there must be a decrease in another asset or a corresponding increase in a liability or equity account. The equation itself always remains in balance after each transaction. The operation of double-entry accounting is illustrated in the following section, which shows 10 analysis […]

Accounts Receivable Aging Definition, How it Works

It assists businesses in monitoring overdue payments, evaluating credit risk, and effectively managing cash flow. The best way to create a useful accounts receivable aging report is with accounting software that uses automation and intelligent features to make tracking overdue payments simple. Accounting software also helps you get paid faster with automatic reminders sent to […]

Restaurant Accounting: Bookkeeping Tips and More

Of course, it can also be used for more straightforward purposes, like tax return preparation. Now that you have a better understanding of the special requirements for how to maintain restaurant accounts, you may be wondering if all the extra work of making sure you get it right is necessary. Keep reading to learn more […]