Tag: Complex Entry
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Bookkeeping – Complex Entries Expanded (Lesson 66)
A journal entry with multiple lines of entry affecting several different ledgers (accounts) is commonly referred to as a complex entry.
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Bookkeeping – Fixed Asset Purchases (Lesson 49)
Every now and then management authorizes the purchase of a long-term producing asset. This could be a vehicle, piece of equipment or real estate. These purchases are referred to as fixed assets.
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Bookkeeping – Petty Cash (Lesson 44)
Petty cash is cash kept in the office in a lockbox or with staff for instant and emergency purposes. It is actual cash and not checks.
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Bookkeeping – Tracking Returns and Allowances (Lesson 39)
Not every customer is satisfied with the product they purchase. The old saying of ‘You can’t please everyone all the time’ is true.