For any company income statement is a very important accounting document. Accounts Receivable refers to the money which the company is expected to receive from stakeholders who have used a company’s service or goods.Ħ. The accounts payable ledger captures all such dues to be paid.ĥ. Accounts payable is money that a company has to pay to its vendors. These are important statements as they allow a user to quickly have a look into how transactions happened during a particular period.Ĥ. Accounting journal records all the transactions that take place in a company. It balances the assets with liabilities and gives a quick insight into which element goes into which section.ģ. A balance sheet is a very crucial and the most important part of accounting. There are various accounting documents, amongst which the important ones are Balance Sheet, Accounting Journal, Accounts Payable, Accounts Receivable, Income Statement, and Trial Balance.Ģ.
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