Comments for Business Accounting Guides

Comment on Accounting Entry by jewel reja

jewel reja — Sun, 06 May 2012 11:55:12 +0000

Awesome accounting examples I found here. Thanks a lot the authority indeed.

Comment on Accounting Cycle by Anonymous

Anonymous — Sun, 15 Apr 2012 17:25:36 +0000

Thank you for this………..I am going nuts with this “accounting”.
You just helped me a lot.

Comment on Accounting Cycle by Kenneth Meunier

Kenneth Meunier — Fri, 06 Apr 2012 19:00:31 +0000

Hi Jassi - I have resolved this by putting out my own book. It is considered the best bang for you buck by far. Check it out here ! Kenneth

Comment on Closing Entries by Kenneth Meunier

Kenneth Meunier — Thu, 05 Apr 2012 15:28:53 +0000

Hi Tabby and thank you for your question.

Take the prior year GL and file it away for your recordkeeping after you carry the balances forward. Start a new journal for the new year as well. You will want to do that for recordkeeping, audits, etc.

For the balance sheet accounts you can carry the balance forward and start the GL for a new year. For the income statement accounts you can start the new GL with zero balances. This will help keep your financial statements in order and keep the years separate.

Kenneth

Comment on Closing Entries by Tabbi

Tabbi — Thu, 05 Apr 2012 03:16:59 +0000

This is a probably a very simple answer for my question. Once the closing process has been completed and the post trial balance has been done, for the next accounting period, would I continue showing my general journal entries right where I left off and since the temporary accounts have a zero balance in the general ledger, would I just post my next transaction for the next accounting period right under the zero balance? Or would I need to start a new general journal and a new ledger for my temporary accounts? The problem that I need to do is all by hand, not computerized.

Comment on Best Accounting Software by Peachtree weaknesses | Azwomeninblue

Peachtree weaknesses | Azwomeninblue — Tue, 03 Apr 2012 14:38:57 +0000

[...] Best Accounting Software|Accounting Software ReviewsBest Accounting Software, Strengths, Weaknesses, Price, Overall Rating. Peachtree Complete Accounting Software. Exceptional inventory management and … [...]

Comment on Inventory Turnover by Hong Seng

Hong Seng — Sun, 19 Feb 2012 07:36:35 +0000

Does anybody know the average inventory turnover rate for the aviation MRO industry ?

Comment on Inventory Turnover by PH Chang

PH Chang — Thu, 19 Jan 2012 13:44:17 +0000

I would like to know inventory turns benchmark for fish farm trading industries……

Comment on Accounting Equation by neeraj sharma

neeraj sharma — Mon, 26 Dec 2011 07:05:00 +0000

like very much , also helpful in learning basics very easily.

Comment on Contra Account by patrick

patrick — Fri, 23 Dec 2011 17:07:17 +0000

appreciate the help.
pc