When a company produces products or services for customers and issues invoices for payment of those products or services, it is reasonable to assume that many of those invoices will not be paid. Unpaid receivables like these become bad debt expense and will need to be addressed. Learning how to calculate bad debt expense can […]
Category: Accounting Lessons
Lesson 1 in the Basic Accounting series: Understanding basic accounting concepts is a must for every small business owner. Even if you have an accountant that takes care of that “accounting stuff
Lesson 2 in the Basic Accounting series: With a double entry bookkeeping system every one of your small business transactions will be recorded into at least two of the accounts in your accounting syst
Lesson 3 in the Basic Accounting series: Learning how to record accounting journal entries is the foundation of any business accounting course. Let us show you the steps and some examples! If you are a student, small business owner, or just wanting to brush up on your accounting skills, understanding the basic accounting concepts of debits and […]
Lesson 4 in the Basic Accounting series: A general accounting ledger is a collection of your chart of accounts. It is where all of your accounting journal entries end up. Most all accounting these day