Time flies so fast- it seems like only just yesterday we were having great times enjoying our holiday vacation for the new year. Now, we are back to reality, having to face the challenges of keeping our business transactions up to date and preparing to do the year-end procedures for accounting. One or few of […]
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How to find long term debt accountancy
Long-term debt is debt that has been accrued by a company and must be paid off in one year or more. These amounts can be found on the company’s balance sheet in the order they will need to be repaid. This is important information analysts look for on the balance sheet when determining […]
Find Transactions and Transaction Journals in MYOB
MYOB allows you to Find Transactions you have entered in MYOB so that it is easy for you to review transactions when needed. This feature is found on the lower portion on any of the main command centre and click on the Find Transactions. Under this feature, you see the transactions that can be found […]
Article – Assets and Current Assets
In Accounting, Assets are those economic resources of an enterprise and which the business have ownership. The assets can have physical existence (tangible assets) and can have no physical existence, which is called intangible assets – example of which is goodwill. Assets are balance sheet accounts and are presented in the order of liquidity. These […]
Computerized Accounting Software Vs. Manual Accounting
Proper account management is vital for the success of any business or company. There are two systems in which companies can choose to manage their accounts- that is manual and computerized software accounting. Manual accounting entails the use of manual labor to compute and record company or business transactions to the worksheet, general ledger, […]
How to Determine Profitability of a Job
MYOB have the functionality to determine and analyze the profitability of a job by using the Jobs Profit and Loss Report. This is very useful when your company wants to know if doing projects for a specific customer or doing more than one project for one customer is profitable or not. However, you must bear […]
Basic Accounts and Basic Accounting Equation
As discussed in our previous accounting topic, Accounting is always associated with the term “Debit” and “Credit”. Accounting is always known to deal with “balancing” the account debits and credits. This mean that the total debits should always equal to the total credits. Because of this, Accounting in modern times means the use of double-entry […]