#Accounts


Choosing business tactics for your future that fit your unique business

Business tactics

We live in an ever-changing world where people frequently have new ideas. Presently, corporations aren’t only on the rise, but small business owners are popping up everywhere as well. In addition to corporations and small businesses, there’s also a multitude of online stores and companies. Many individuals who dive in are already experienced, but many […]


Double-entry bookkeeping system

Bookkeeping

The Double Entry Bookkeeping system is scientific, perfect, and a complete method of recording business information in the books of accounts. Generally, in every business transaction, we find two accounts, out of which one account is given debit effect and another account is given credit effect. In other words, in this system for every debit, […]


What is bookkeeping?

Bookkeeping

Bookkeeping is a systematic method of keeping and maintaining a record of day to day business transactions in words and figures in the books of accounts so as to show clearly and correctly the financial position of a business. Thus bookkeeping involves the following actions: To record summarized and systematic financial business transactions in the […]


Journal entries in accounting [Basics]

Journal Entries

Journal is one of the most important book of account, in which business transactions are recorded systematically. In layman’s term, we can say it is a book of daily records. When a businessman completes a business transaction, he records it in the rough or waste book in a short and summarized form. Then this business […]


Classification of accounts: Personal, real, and nominal

Classification of Accounts: Personal & Real & Nominal

An account is a list of business transactions falling under the same description for a given period of time. A systematic and summarized record of business transactions with respect to person, property, loss, gain, income, expense is known as account. An account is generally prepared for one complete year. The word Account in abbreviation, can […]