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For example, if a company sells goods to a customer, the customer’s account is debited to reflect fixed assets the increase in assets, as the company receives cash or accounts receivable. Conversely, the sales account is credited, indicating that the business has generated income...

A full charge bookkeeper manages day-to-day financial tasks—like recording transactions, reconciling accounts and maintaining records. On the other hand, an accountant analyzes financial data to provide insights and support strategic planning. In short, bookkeepers focus on a company’s past financial records, while accountants use...

If you need to view ePix format, OpenOffice Draw, LibreOffice Draw, or Scribus Draw. An EPS file extension structure has a file header, PostScript Program, encapsulated image data, and an end-of-file marker. The header contains primary information about the file, including the resolution level,...

Under the accrual basis of accounting, the financial transactions are to be recorded as and when they occur. When the seller provides services or sells goods, then he has to recognize the revenue even if the customer has not made payment. Accrued revenue entries...