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A Simple Key For small business bookkeeping Unveiled

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Here’s a realistic example: Every time a consumer pays their $one,000 invoice, in double-entry bookkeeping you’d file a debit towards your checking account (expanding your assets) and also a credit score to accounts receivable (cutting down what prospects owe you). This two-sided entry aids reduce mistakes and delivers a clearer https://scottq530ipv6.blogoxo.com/profile

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