Category: Bookkeeping

Sales discount as a contra revenue account is expected to have a debit balance rather than the usual credit balance of revenue. There are four main types of contra accounts such as contra asset,...

In the previous article, we covered the cost of comm stock equity calculation. In this article, we cover how to account for the issuance of common stock. This ranges from the journal entry for...

It doesn’t take years of direct accounting experience to become a controller, but it helps. Controllers, especially those for larger companies, have a wider focus than simply accounting protocol. Many have a Master of...

EAs are federally licensed tax practitioners who are authorized to advise, represent, and prepare tax returns for individuals and businesses. The National Association of Enrolled Agents (NAEA) maintains a directory of EAs. You can...

For instance, if you own a business, there are a number of tax deductions that can save you money. From office supplies to travel expenses, there are numerous ways to reduce your tax bill....