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In some occasions, business (Also see How to Track the Expenses and the Benefits It Brings to Your Business) owners may encounter a situation where the goods they receive from their suppliers may be defective, or the merchandise are not what they want. If this happens, they will return those goods to the supplier. From … Read moreJournal Entries for Sales Return

If you want to make a budget plan for your small company, the process of tracking the expenses is very crucial. You need to track all the receipts and payments and keep a record for each of them as this helps to improve your company’s financial health. By doing so, you will be able to … Read moreHow to Track the Expenses and the Benefits It Brings to Your Business

Both accounts payable and accrued expenses are the terms that you will usually see when you read the balance sheet of your company. When the accountants from an accounting firm in Johor Bahru are recording business transactions for the business owners, they will record the payment that the company needs to pay to its creditors … Read moreHow to Differentiate Accounts Payable and Accrued Expenses?

Most must have heard of dividends and interest, but not all of them know their actual meaning and the dissimilarities between them. Both of them are totally different in terms of concept. Dividends are the part of profits that the company distributes among its shareholders as a return for their investments. On the other hand, … Read moreHow to Differentiate Dividend and Interest?

As we all know, capital is an essential element in all kinds of business. No one can run a business without capital (Also see Capitalizing versus Expending costs). There are two types of capital, which are working capital and fixed capital. Working capital refers to the capital that the company requires to finance its daily … Read moreHow to Differentiate Working Capital and Fixed Capital?

Although freelancers get to enjoy the freedom of deciding on when and how they want to work, they need to take the responsibilities of various tasks by themselves. After they get paid, they need to get themselves ready for tax seasons, and this is why they must equip themselves with some bookkeeping knowledge. For freelancers, … Read moreHow Can Freelancers Manage Their Bookkeeping Tasks?