Category: Bookkeeping

If you’re overwhelmed with the many aspects of learning how to do payroll accounting, you’re not alone. It’s important to choose a quality accounting program that will make documenting transactions easier. You’ll thank yourself when…

As stated earlier, retained earnings at the beginning of the period are actually the previous year’s retained earnings. This can be found in the balance of the previous year, under the shareholder’s equity section on…

For example, an increase in an asset account can be matched by an equal increase to a related liability or shareholder’s equity account such that the accounting equation stays in balance. Alternatively, an increase in…