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To access the information in the document-sharing program, you need a user ID and password. And more importantly, there’s no need for physical backup because files are in the cloud. First, you can rent a post office box from your local post office. On average, you will pay $60 for six months or $120 for […]
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See the entries below on how to record the goods returned by customers into the inventories and how it is affected the cost of goods sold. Sales return isn’t exactly an expense or a loss to the company, however, it reduces current assets (in the case of credit sales), therefore, it indirectly acts as a […]
This can be a bit confusing if you’re not an accountant, but you can use this handy cheat sheet to easily remember how the sale journal entry accounts are affected. Sales are credit journal entries, but they have to be balanced by debit entries to other accounts. When you offer credit to customers, they receive […]