Bookkeeping

When a transaction to be recorded in the books of accounts is completely omitted and a post-closing trial balance reports: due to which agreement of trial balance does not affect, it is known as error of complete omission. And finally, in the fourth entry the drawing account is closed to the capital account. At this … Đọc tiếp

This step of the accounting cycle helps you analyze, reconcile, and fine-tune your accounts to ensure accuracy and provide a clear picture of your financial standing. Balancing gives you a full picture of how transactions impact each account, ensuring the books stay in harmony and the accounting equation holds. After logging transactions in the journal, … Đọc tiếp