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.

Working Trial Balance

02/18/2017

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)

01/29/2017

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)

01/26/2017

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 [...]

Control Accounts in Accounting

06/08/2015

Accounting uses accounts to sum up activity related to a particular function of business.  As an example the bank account has a register which identifies the activity in a ledger format of what transpires at the bank for this particular account.  [...]