Questions tagged [bookkeeping]
Bookkeeping is the process of recording business data in a prescribed format. It often forms the first step in the accounting procedures of a company.
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Help in understanding a basic accounting principle
'An entry which increases an asset account is called a debit.'
So if my bank account is my asset account, when I debit money, money actually goes out so it is a 'decrease'. But the above statement ...
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What are the negative implications of the 2011 cost basis reporting law?
The United States has a new law requiring brokerages to report the cost basis of sales on IRS Form 1099-B. For stocks purchased after January 1, 2011, financial services firms will have to report the ...
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Accounting treatment for store credit
I just got store credit when I returned some bad juice. This left me wondering. Which accounts receive the entries when a store issues store credit?
For example, when I made the payment for the juice,...
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Good book-keeping software?
Can anyone recommend a good program (or web app, I guess) for keeping one's books?
I've tried GnuCash, but I find it so complex, that I'm sure I'm appropriating credits to credits. As a minimum, I ...
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GnuCash bookkeeping for account contributions to accounts having annual contribution limits?
I'm using GnuCash, and trying to figure out how to structure a couple of accounts to track contributions to accounts like Roth IRAs and HSAs that have an annual contribution limit that I need to track....
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