Business and Personal Finance: The Basics of Sales Transactions

Recording Your Revenues – The Basics of Sales Transactions There is one thing all sales transactions have in common: a credit entry to the sales account. The rest depends on the particular circumstances sur- rounding the transaction, and there can be a lot of variation in those circumstances. ALERT! Remember, companies with inventory generally must … Read more

Business and Personal Finance: What Are You Selling?

Recording Your Revenues – What Are You Selling? When it comes to recording your revenues, what your company sells plays a big part in how transactions are written up. There are basically three things you can sell: products, services, or a combination product and service. The main transaction differences are with cost of goods sold … Read more