Accounting is one of the important factors in accounting, which requires highly accurate because it is a premise to build financial statements. So pen math is nothing? There are types of accounting entries and how recording pen right math rules out the stars? All will be AccNet introduced now in this article, the same track you.
1. Learn accounting what is?
Accounting be understood as the activity of recorded transactions arising related to finance to ledger accounting. The implementation pen payment can through the accounting software for professional use or use done on paper.
The total amount of the account, the Debtor must be equal to the total amount of the account party Has. When 2 values are not equal, they are considered entry does not balance, the accountant should be collated and timely adjustment.
The item may record a one-time or recurring, such as items depreciation of fixed assets and depreciation capital.
2. The type of accounting entries need to know
Today in the field of accounting there are 3 types of pen basic math most need to know is that: adjustments and pen, the shipping and accounting closeout. What kind of accounting is mandatory to understand for those who do accounting. So the content of each type pen math is nothing? The same analysis for details.
2.1 adjusting entry
Adjusting entry is an accounting process perform the adjustment at the end of each accounting period. The purpose of the adjusting entry to ensure revenue and expenses are identified and measured complete and accurate.
Adjusting entry includes 5 basic types:
- Adjusting entry prepaid expenses: As adjustments and the expenses have been paid, and it directly affects the results of business activities ....
- Adjustments and depreciation fixed assets: Are accounting entries made adjustments to allocate the cost of fixed assets that into the cost. Accounting is often applied method the straight-line depreciation.
- Adjusting entries fees must be paid: adjustments and the expenses incurred, but the business has not paid, since it increases the cost and increase the liabilities of the business.
- Adjustments and revenue accrual: The adjusting entries the revenue, but have not yet collected the cash. Therefore, it is processed along with the account receivables.
- Adjustments and unrealized revenue: The adjusting entry revenue from the received cash in advance of the customer and are obliged to sell goods or provide services for customers. This makes the business incurred a debt to pay.
2.2 accounting transfer
After going through the concept pen math is nothing? And know the importance of accounting entries, then pens payment of the transfer needs to be further research to understand the nature as well as the meaning of it.
Pen payment of the transfer is the accounting entries made at the end of each accounting period periodically by month, by quarter or by year. The transfer of accounts accounting category 5, 6, 7, 8 to the accounts accounting type 9 to determine the turnover of the business to determine the profit and loss business and corporate income tax payable as well as identify profit after tax.
Similar to the pen other pens, the transfer includes the categories below:
- Pen the transfer reduction of revenue in the revenue accounts, then transfer to the accounts of revenue (511, 512, 515), account other income (711) into the accounts of the account Debtor to determine the results of trading accounts 911.
- Transfer the Debt of the expense account (account 632, 635, 641, 642, 811, 821) on the account There of the “Identify results business” account (911).
- Remove the account, the cost is not reasonable to public on the corporate INCOME tax and then from there determine the number of corporate tax payable to the state.
2.3 accounting closeout
Pen math key window are accounting entries made at the end of the accounting period, related to the transfer of data from the temporary accounts to the permanent account on the balance sheet and are ready for the financial reporting.
Entry lock window contains the following categories:
- Distribution the account is paid in advance, short term or long term have taken account of depreciation of fixed assets.
- The total of the expenses incurred, and the cost of them.
- Inventory of accounts, fixed assets, cash and inventory to compare against the window of the bank and processing when there is a difference.
- Accruals of expenses incurred during the year that do not yet have full documents such as receipts, voucher.
- A comparison with the liabilities there is no difference, if any, proceed to the adjustment and deduction of liabilities.
- Set up the room for items can inventory and establishment of a reserve for doubtful debts.
3. Way of recording accounting regulations
Surely you know about the content of each pen math is nothing right? Next this, AccNet will guide you how to record windows accounting regulations. Today can make the pen a payment via 2 form: Make journal entries in accounting software and make journal entries on regular paper.
When making journal entries through the the best accounting software todayall the accounting entries will be entered in the window will be the modules (modules) of different accounting software such as receivables, payables, and accounting will impact indirectly on ledger accounting.
On the other hand, for accountants perform recorded transactions arising directly on the paper usually need to acknowledge the debt first, then record the account and the account has been credited deviation to the right, so that users can easily distinguish the account.
Many businesses have difficulty in collating pen payments when the total number of the account Debtor is not equal to the total number of the account parties Have caused the imbalance of finance. This often happens in businesses using recording method manually. The arising errors can pull in the larger problem, such as financial statements misleading, take more processing time.
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The implementation process accounting is extremely important because accounting is the preparation step for the establishment of financial statements, should require accountants to perform accurate. Hope this article help you better understand pen math is nothing? The kind pen basic math to understand. In the process, refer to the article have problems or questions please contact AccNet
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