Want this question answered?
all vendors are paid on credit
all vendors are paid on credit
all vendors are paid on credit
all vendors are paid on credit
A few of the popular and basic accounting software available include products such as: QuickBooks, Gnu Cash, SQL Ledger, Compiere, xTuple PostBooks, and Turbo Cash.
Debit Cash Received Credit Income/Sales
Cash book is commonly used as a tool for cash management. This is the basic accounting for money is received and spent in an organization.
nowadays this is not relevant question in the scenario of computerized accounting software. computer software itself prepares the basic books of account as follows: Cash book Ledger
Quickbooks, Xero, Cash book, Bookkeeper are few accounting software. There are various service providers for accounting software such as Wingsinfo, Indoconindia, Digisoft etc.
Accrual Accounting recognizes business transactions when they are occurred not when the related cash is received or a payment is made. Cash accounting is a completely opposite. In cash accounting transactions are recognized only when the related cash is received or paid.
Following are four special journals in accounting: 1 - Sales Journal 2 - Purchase journal 3 - Cash receipt journal 4 - Cash payment journal
Following are advantages of cash basis accounting:Easy to understandEasy to learnNo tedious calculations requiredNo hard rules to follow