Content Expanded Accounting Equation- Example 1 Business Development Financial Accounting Accounting Equation Explained Accounting Equation for a Sole Proprietorship: Transactions 5-6 Sell Goods on Credit Printing Plus did not pay immediately for the supplies and asked to be billed for the supplies, payable at a later date. This creates a liability for the company, Accounts Payable. This liability increases Accounts Payable; thus, Accounts Payable increases on the credit side. Printing Plus has not yet provided the service, meaning it cannot recognize the revenue as earned.…

Content Online Bookkeeping Software for Small Businesses Keep track of daily ingoings and outgoings How to manage your bookkeeping Which is more important right now – bookkeeper or accountant? What is bookkeeping? You can choose to operate as a sole bookkeeper or hire additional staff. Consider the additional profits you could make by hiring more bookkeepers and compare this with the additional outgoings you will have, such as their wages and the cost of additional equipment. If you think there is a market for more…