Checking accounts are a fundamental part of life. It is a type of bank account that allows you to deposit money and withdraw it as needed, typically using a check… [read more]
No, a fixed deposit does not count towards the minimum balance. I do have to appreciate you, if you come to this article searching such a logical question. The minimum… [read more]
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… [read more]
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,… [read more]
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… [read more]
Are you a business owner? Do you understand accounting? Relax, most business owners aren’t accountants; they rely on skilled professionals to do the numbers for them. However, having a basic… [read more]
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.… [read more]
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… [read more]
In the accounting field, especially in the finance section, we are taught to create and pass the journal entries in the books of accounts. One must have knowledge of basic… [read more]