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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Handling waitress unclaimed pay from three years ago
Each week our boss gives us payslips with our hours worked and we can cash them right at the place of work. Pretty simple. You get a receipt for your hours worked for the week and a slip to turn into ...
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Would simplistic date / amount / description bookkeeping "cut it" legally?
I've read many articles and texts over the years about running companies and personal finances. Every time, I sink down in my chair, mentally exhausted from the utterly confusing, cryptic material I'...
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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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Double-entry accounting: how to keep track of mortgage installments as expenses?
Context: I am new to double-entry accounting, I use GnuCash for my personal family bookkeeping. At the moment, the main goal for me is to keep track of incomes/expenses of our family over time. For ...
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How to account for startup costs for an LLC from personal money?
If I start a business (LLC, specifically) and incur some of the startup costs with my own money, how do I account for this in the bookkeeping once the LLC's bank account is up and running?
For ...
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How to account for Capital Gains (Losses) in double-entry accounting?
After taking an introductory financial accounting class, I decided to use GnuCash to keep track of my personal finances. I have 5 major accounts in my general ledger:
Equity
Currently only used to ...
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Good way to record currency conversion transactions in personal accounting software?
I have deep personal financial connections to two countries, with different currencies. (They happen to be Canada/CAD and USA/USD, but I don't think that's material.) I have multiple bank and ...
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How to double-entry bookkeep money incoming from sold items?
I started doing double-entry bookkeeping with GnuCash to keep track of my personal finances, down to the penny. I have as assets my bank account and "cash in wallet", and many expense accounts for ...
user24385
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When bookkeeping, which transaction date should I use from my bank statement?
When reconciling my bookkeeping with my bank statement, should I use the date the transaction occurred or the date the bank processed the transaction?
Also, which date should I use when transferring ...
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In double entry book-keeping, how should I record writing of a check?
Say I write a check (in British English, a cheque) to pay money to some supplier out of my business's current account. I post the check.
As far as I'm concerned, the company has spent that money and ...
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Lending money to someone: how to book?
I'm trying my hand at double-entry bookkeeping for my personal finances. While I get the gist, I have trouble with the details. Please bear with me if I use the wrong terminology.
I have lent some ...
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Double entry bookkeeping - Record incoming money which I would hold temporarily as a custodian
My dad's clients often transfer payments, which they owe to my dad, into my bank account [for technical reasons, some payment types into my account are not currently available in my dad's]. After a ...
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How to balance out trading between different currencies and dividends on a ledger?
TL;DR: I'm wondering how should I balance out values when dealing with multiple currencies being traded over time along with normal expenses that might occur along the way, as well as transactions ...
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Correct method of recording bank transfer in double-entry accounting
What is the correct way to record the transfer of funds between 2 accounts of the same type (ie checking account to savings account)? Since they are both debit accounts, wouldn't crediting one and ...
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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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