Revenue
Demystify sales accounting entries. Learn what are sales in accounting and why they are recorded as a credit. Get step-by-step examples for cash sales journal entry, credit sales journal entry, and inventory sales journal entry to master how to record sales in accounting.
Revenue
Learn the cash sales definition and the advantages of cash transactions. We show you how to record cash sales in accounting using double entry for cash sales, complete with practical cash sales journal entry examples for goods and services.
Revenue
Understand the core principles of sales returns accounting. Discover why sales returns are debits, how to use contra-revenue accounts, and the correct double entry bookkeeping method for the journal entry for sales return.
Expenses
Confused about "rent expense debit or credit"? Learn the fundamentals of "accounting for rent." We detail the exact "journal entry for rent payment," explain "double-entry bookkeeping," and compare "accrual vs cash basis accounting" methods for accurate financial records.
Expenses
Confused about accounting supplies expense? Discover why supplies expense is always a debit. We explain the rules for debits and credits in accounting and provide a clear supplies expense adjusting entry example for accurate financial reporting.
Equity & Capital
Get clarity on understanding debits and credits in accounting as they relate to equity. Discover the definitive answer to is capital stock a debit or credit, review what is authorized capital stock, and master the fundamentals of accounting for capital stock.
Expenses
Demystify accounting basics and the rules of debits and credits. Learn why are expenses debited in double entry accounting. We provide clear double entry accounting examples and show you how to record expenses in accounting journal entries easily.
Revenue
Discover what type of account sales discounts are. Learn the strategic value of early payment discounts and how to accurately calculate gross sales vs net sales. We detail the process of recording sales discounts as contra-revenue accounts on your income statement.
Revenue
Is a sales discount an expense? Discover the crucial difference between contra revenue vs expense. Learn the correct sales discount accounting entry and how to report income statement sales discount figures to accurately calculate gross vs net sales.
Statements
Ensure balance sheet integrity by mastering the balance sheet substantiation process. Discover best practices and leverage automated account reconciliation software to overcome challenges in financial reporting and prepare for any balance sheet audit.
Equity & Capital
Understand what are drawings in accounting and why they are recorded as debits. Learn the drawings account nature, see the effect of drawings on the accounting equation, and master the journal entries for drawings of goods and cash.
Expenses
Understand the definition of utilities expense and its proper utilities expense classification. Discover why utilities expense is always a debit and review essential accounting journal entry examples for accurate accounting for utilities, whether using accrual vs cash basis accounting principles.
