Bookkeeping

Gross revenue represents the total income generated by a business, while sales refer to the revenue generated from selling products or services. In contrast, net sales are the total revenue of a company after the deduction of returns, discounts, and allowances. Instead, they show the pure profit of a company over a given period of…

It allows analysts and accountants to see the components of shareholder’s equity and how it impacts the company. It breaks down net income and the transactions related to the owners (dividends, etc.). The balance sheet is just a more detailed version of the fundamental accounting equation—also known as the balance sheet formula—which includes assets, liabilities,…

The Treasure’s Office was created when the state’s first constitution was written in 1776. But by the early 1800s, the state’s finances were in “a state of bewildering confusion” and no one could “tell the amounts of debts or of the credit of the State,” according to History of South Carolina, a book edited in…

But these cost more than some competitors, so if you process a lot of payments, you may end up paying more with Wave’s “free” accounting than you would with a paid app. Overall, independent contractors enjoy the flexibility of making their own schedule while doing work they’re passionate about. Unlike a salaried employee, there’s no…