Category: Bookkeeping

  • What are periodic inventory systems and when are they right for your business?

    Contents: When to Use Periodic Inventory System Perpetual FIFO Periodic Inventory System: FAQs Great option for small business Then you’ve got to track which items actually get sold to determine the actual profit margins on each sale. To determine your business’s profitability, you’ll need to know how much you spent to produce, ship, store, and […]

  • EIN Number What is an EIN Number TRUiC

    Content EIN Eligibility Basics Register a Georgia Business – What You Need to Know How do I look up another business’s EIN? If Applying For Sales and Use Tax Does a DBA need an EIN? Next, as of May 21, 2012, the IRS began limiting EIN issuance to one per responsible party, per day. Once […]


    Overall, the journal entry for the purchase of merchandise is as below. Merchandise refers to goods a company purchases or produces for selling to customers. It includes tangible products bought, stored, and sold in the operations. Examples of merchandise include finished goods, raw materials, or inventory items a company acquires to resell for a profit. […]

  • What is the journal entry for trade discount?

    Content Meet Top Certified Financial Advisors Near You Differences: Trade vs. Cash Discount How Does Trade Discount Work? Definition of Goods Purchased at a Discount Trade Discount FAQs Promotional Discounts Quantity Discount As none of the parties record this discount anywhere in the books of accounts, the discount amount largely depends on the parties’ mutual […]

  • Interviews with HR, Talent and Tech Experts

    Content Think Fast, Talk Smart: Communication Techniques UI Breakfast: UI/UX Design and Product Strategy Talent Acquisition Podcast – Recruiting, Staffing, Human Resources HR Leaders He has an extensive background in sales, marketing and leadership roles in high profile tech companies.Xref is a sponsor of the Toronto Recruiters Conference and InnovateWork Summit on Nov 26. In […]