recording transactions

Business and Personal Finance: The Basics of Sales Transactions

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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: The Everyday Transactions

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Setting Up a System – The Everyday Transactions Most companies have the same types of day-to-day transactions, and almost all of these involve revenue and expense accounts. Each of these common transactions involves some kind of document, whether it’s an invoice, a receipt, a check stub, or some cash register tape. From these source documents, … Read more