Uchekinze Nigeria Limited

Category Bookkeeping

6 Best Ecommerce Accounting Software for 2024

No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Intuit Inc. does not have any responsibility for updating or revising any information presented herein. Accordingly,…

Contra Accounts Examples & How They Work

A debit will be made to the bad debt expense for $4,000 to balance the journal entry. Although the accounts receivable is not due in September, the company still has to report credit losses of $4,000 as bad debts expense…

Normal Debit and Credit Balances for the Accounts

Double-entry bookkeeping enables businesses to maintain accurate and reliable financial records. This method of recording financial transactions would not exist without the normal balance. A contra revenue account that reports the discounts allowed by the seller if the customer pays…