Chart of Accounts Optimization: The First Step in ..
Think of debts to suppliers, loans from banks, or unpaid expenses – they are your liabilities. The total assets amount represents the value of all the company’s resources. When a company purchases inventory on credit, the Inventory account is debited to increase it, and the Accounts Payable account is credited to record the liability to […]
Chart of Accounts Optimization: The First Step in .. Read More »