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The Difference between Sales invoice and Official Receipt

June 18, 2013 Vic 8 Comments

Official receipts vs sales inv

What’s the difference between a Sales Invoice and an Official Receipt?  To address this question, the following are some of the differences of sales invoices and official receipts:     Sales Invoice Official Receipt 1. A sales invoice is a … [Read more...]

Accounting, Taxation BIR, official receipt, recording, sales invoice, VAT

Examples of Adjusting Journal Entries in Accounting

March 8, 2012 Vic 5 Comments

Adjusted general ledger cash

In our previous post titled how to make adjusting journal entries (AJE), we have discussed the common types of adjusting entries, namely, accrued revenues, accrued expenses, unearned revenues, prepaid expenses, depreciation (estimation), change in accounting estimate, and prior … [Read more...]

Accounting accounting tips, bookkeeping, business, financial accounting, journal entries, journalizing, recording

How to Prepare a Trial Balance

March 5, 2012 Vic 1 Comment

sample of a simple trial balance

A trial balance is an internal accounting statement prepared to check the accuracy of the company’s accounting records. As the “trial” on its name suggests, it is made to check if there are errors committed during the accounting process, which involves journalizing and posting … [Read more...]

Accounting accounting tips, business, Financial Statements, recording, trial balance

How to Post Journal Entries to the General Ledger

February 26, 2012 Vic 5 Comments

Sample T-account general ledger

After journalizing your business transactions, that is, recording them in the general or special journals, the next step is to post those journal entries in the general ledger accounts. To learn about recording transactions in the general journal, please read our previous article … [Read more...]

Accounting accounting tips, business, general ledger, recording, tutorial

How to Make Accounting Journal Entries

June 16, 2011 Vic 14 Comments

Recording Journal Entries

After identifying and measuring your business transactions, you will now move to the recording process of accounting. The first phase of recording is making the journal entries (journalizing) that should be recorded in the general journal or special journals, such as sales … [Read more...]

Accounting assets, business, capital, expenses, financial, income, journalizing, liability, recording

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