*First begin by heading up the columns, in cell A1: date of invoice invoice number (the number that you assign, since these are your sales invoices) customer net amount (if registered for VAT, if not registered for VAT, then head this column “gross amount”) VAT (omit this if not registered for VAT) gross amount credit [read more]
No Apology*I have been at the PUB (not that pub), the PowerUpBlog of Ingenuity Marketing (thanks to Michelle Golden at Golden Marketing for bringing this one to my attention) reading their what’s your story post and I’ve realised that I am guilty of giving off negative vibes about my profession. I am apologetic at times, when I mention what I do [read more] |
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The Rules of Double Entry Bookkeeping*Every financial transaction gives rise to two accounting entries: one debit one credit The total value of debit entries in the nominal ledger should always be equal to the total value of credit entries. An increase in an expense or an increase in an asset is a debit An increase in income (eg a sale) [read more] |
Double Entry Bookkeeping*Since total liabilities plus capital is always the same as total assets, any transaction which changes a businesses total assets must also change the liabilities plus capital. Another way of looking at it is: if a company buys some stock for £100, it’s total assets will have stayed the same, but the amount of cash [read more] |
