Recent Articles

Trial Balance

An accountant’s report used to confirm that all debits and credits are equal in the accounting input process. It is also used to organized information and via a working trial balance, adjust existing information to comply with other accounting formats: cash basis, tax basis, GAAP and so on.

Bookkeeping – Closing the Books (Lesson 69)


All the lessons to date lead into this one long and arduous task with bookkeeping called ‘Closing the Books’.   Closing of the accounting records is performed at the end of interim and fiscal year periods.   The end of the year [...]

Bookkeeping – Adjusting Journal Entries (Lesson 67)


One of the many tasks for bookkeeper in their daily operations is reconciling accounts including bank accounts, accounts receivable, accounts payable and many others.   Invariably, the balances are off and need adjusting.   To reset or balance [...]

Working Trial Balance


The accounting profession uses various tools to generate accurate accounting information at the close of accounting cycles (monthly, quarterly and annually). The primary document is the working trial balance.  It is very similar to the traitional [...]

Bookkeeping – Accounting Cycles (Lesson 29)


The bookkeeping cycle is like a huge giant clock with several dozen gears from a multiple cog gear rotating the most frequently turning cog cascading into the one large gear that once turned changes the timer one year forward.   The [...]

Bookkeeping with QuickBooks (Lesson 27)


QuickBooks by Intuit is by far the best all around accounting software for small business.   Intuit even creates industry specific versions of QuickBooks.  I personally endorse the Pro version due to the payroll feature and class accounting [...]
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