Most other virtual bookkeeping services give you basic financial reports only, like income statements and balance sheets. In contrast, Merritt gives you more detailed reports like forecasting and quarterly...
The owner’s equity is the balancing amount in the accounting equation. So whatever the worth of assets and liabilities of a business are, the owners’ equity will always be...
Maintenance and repair expense is debited because expenses are always debited. Cash is credited because the decrease in an asset is always credited. Cash is debited because the increase...
Gross pay is broken down into two separate columns, current and year to date. Within this section, your hours worked, and pay rate will be included. However, not all...