Difference between revisions of "Do Accounting Transactions"
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Every business, no matter how large or small, needs to keep track of all its transactions. There are many simple financial software systems you can purchase, but it is best if you first have a clear understanding of how accounting transactions work. You will need to enter every business transaction such as receiving payment or paying a bill into an accounting journal that is like a big log book. Here you will have a collection of categories called accounts, and you will debit (increase or decrease) one account and credit (increase or decrease) another account (examples will follow.) The makers of accounting software programs still follow that formula, but they have made the process much easier for the average user. | Every business, no matter how large or small, needs to keep track of all its transactions. There are many simple financial software systems you can purchase, but it is best if you first have a clear understanding of how accounting transactions work. You will need to enter every business transaction such as receiving payment or paying a bill into an accounting journal that is like a big log book. Here you will have a collection of categories called accounts, and you will debit (increase or decrease) one account and credit (increase or decrease) another account (examples will follow.) The makers of accounting software programs still follow that formula, but they have made the process much easier for the average user. | ||
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==Steps== | ==Steps== | ||
