Category Bookkeeping

Recording Value of Items Sold entails a journal entry reflecting the expense incurred when inventory is sold. The journal entry moves the worth of offered items from the inventory asset account to the COGS expense account. Understanding financial transactions is…

After filing your taxes, it doesn’t mean you’ll have the ability to do away with your receipts and documents. The CRA (Canada Income Agency) suggests keeping those documents for six years after your last Discover of Evaluation. Nevertheless, there are…