Adam Hill, author at Online Accounting

Adam Hill started accounting and trading back in 2007. He has achieved quite a lot of success. Now he decided to open his blog. Here he publishes articles on accounting. For any questions of interest, please contact us by e-mail: admin-hill@online-accounting.net

Loan journal entry: Journal Entry for Loan Taken

Jul 10, 2023 Bookkeeping by Adam Hill

The difference between a loan payable and loan receivable is that one is a liability to a company and one is an asset. A loan payment usually contains two parts, which are an interest payment and a principal payment. During the early years of a loan, the interest portion of this payment will be quite
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Journal entry for depreciation: How to Record a Depreciation Journal Entry: Step By Step

Jul 7, 2023 Bookkeeping by Adam Hill

Instead, depreciation is merely intended to gradually charge the cost of a fixed asset to expense over its useful life. The adjusting entry for a depreciation expense involves debiting depreciation expense and crediting accumulated depreciation. Request a demo with us and see how you can centralize, manage, and automate journal entries with journal entry automation & management
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Journal entries examples: Accounting Journal Entries: Definition, How-to, and Examples Bench Accounting

Jul 7, 2023 Bookkeeping by Adam Hill

You don’t need to include the account that funded the purchase or where the sale was deposited. Keeping a journal allows you to record what’s happening in your life and to work through your thoughts and feelings. Sometimes, you might write a journal for school to help you deepen your understanding of what you’re studying.
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Is bookkeeping hard: Is bookkeeper a hard job?

Jul 6, 2023 Bookkeeping by Adam Hill

In contrast, bookkeepers generally don’t require formal education. Additionally, bookkeepers must be able to handle tasks like producing invoices, completing payrolls, posting debits and credits, and more. Since they have access to sensitive financial data, bookkeepers are bound to confidentiality. Most companies with computerized accounting systems used to have accounting software loaded on each computer
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Irs receipts requirements: IRS Receipts Requirements: What You Need to Know Bench Accounting

Jul 6, 2023 Bookkeeping by Adam Hill

Even paper receipts for large cash purchases don’t have to be stored as physical documents. Many financial apps will convert paper receipts to digital ones for electronic storage in your larger documentation management system. If they have any questions about your return or your tax return gets audited in the future, the records you’ll be
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