Prepaid Expenses It is considered as personal accounts in accounting because they represent an advance payment made by the business for goods or services. It will receive in the future. Personal accounts are those accounts that deal with individuals, firms or entities. That either indebts to the business or have lent money to the business.… Read More »
Cost, Expense and Investment Website Link: Cost, Expense and Investment: Cost, expense and investment are all financial terms that refer to different types of spending. Here are the differences between them: 1.Cost: Cost refers to the amount of money spent on producing or acquiring goods or services. It is usually associated with the direct expenses… Read More »
Sales invoice voucher Website link Sales invoice voucher: A sales invoice voucher, also referred to as a sales invoice or sales receipt, is an essential accounting document utilized to document the sale of goods or services. This document encompasses pertinent information such as the names and addresses of both the buyer and the seller, the… Read More »
What is invoicing Invoicing refers to the process of creating and sending a document that requests payment for goods or services that have been provided. An invoice usually contains information such as the seller’s name and address, buyer’s name and address. A description of the goods or services provided. And other relevant details such as… Read More »
