Category: Bookkeeping

Because the first account (Cash) was debited, the second account needs to be credited. Common stock is part of stockholders’ equity, which is on the right side of the accounting equation. As a result, it should have a credit balance, and to increase bookkeeping 101 its balance the account needs to be credited. Accounting Basics…

Bookkeeping is the core service that Bookkeeper360 offers and is available by signing up for a consultation with its U.S.-based team. Additionally, Bookkeeper360 offers custom app integrations based on specific project and business needs. The equity section of the chart of accounts is based on the fact that the legal structure of the entity is…

Even though interest rates on business accounts are traditionally low, having a cash surplus in a business savings account can improve your likelihood of being approved for a loan. It’s also a good place to store money you’re setting aside for taxes and emergencies. It’s best to work with a CPA who has experience working…