Equity

52 Results For Equity

Equity

1 - 12 of 52

Account opening balances

…When you enter an account opening balance, the amount is balanced against the Historical Balancing equity account. Please speak with your accountant to discuss any further adjustment/journal entries that…

Distributions to Trust beneficiaries

…period if using 13 periods to distribute income to the beneficiaries. Debit the Retained Earnings equity (3-0000) account and Credit the beneficiaries- Liability (2-0000) accounts. Notes: * Method 2 will…

Partnerships

…Accounts to setup for partnerships When a company file is created it automatically creates two equity accounts: * 3-8000 Retained Earnings (previous years profit retained) * 3-9000 Current Year Earnings…

Glossary of accounting terms

…liability and equity accounts. It is called a balance sheet because the total value of the asset accounts minus the total value of the liability always equals the total of the equity accounts. Budgets…

Recording a business expense where a proportion is for non-business use

…and link the accounts for Tax Collected and Tax Paid to your Private Usage/Drawings (or similar) equity account. Note that the account used for drawings is only a sample. Please contact your accountant…

Statement of Cash Flow report

…accounts that are classified as Investing. D This section details changes in Asset, Liability and Equity accounts that are classified as Financing. E This section details changes in Asset accounts that…

Recording unrealised currency gain/loss

…associated with the asset account. If the account is a liability or equity account If the report shows a currency gain for a liability or equity account, credit the Unrealised Currency Gain/Loss account and…

My business story, Flash Fotos | MYOB Blog

Like most other business owners I started my business 6 years ago to create a life with more independence, more flexibility, more income and a better lifestyle. I wanted to create my dream life. Little did I know that in reality my life would turn into a nightmare. My income for the first four years of business was much lower than I could have earned working for someone else

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Recording unrealised currency gain/loss

…associated with the asset account. If the account is a liability or equity account If the report shows a currency gain for a liability or equity account, credit the Unrealised Currency Gain/Loss account and…

Recording unrealised currency gain/loss

…associated with the asset account. If the account is a liability or equity account If the report shows a currency gain for a liability or equity account, credit the Unrealised Currency Gain/Loss account and…

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