Category: Bookkeeping

If a company keeps accurate records using the double-entry system, the accounting equation will always be “in balance,” meaning the left side of the equation will be equal to the right side. The balance is maintained because every business transaction affects at least two of a company’s accounts. For example, when a company borrows money…

Enter your name and email in the form below and download the free template now! You can use the Excel file to enter the numbers for any company and gain a deeper understanding of how balance sheets work. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including…

Here are some accounting rules highlights for your chart of accounts – when an employee is on any accrued vacation time policy (per hour worked, each pay period, beginning of year or anniversary date). This means that employees must use their vacation time by a certain date (such as the end of the year), and…