That said, you can actually have the best of both worlds and use Notion for your main knowledge database and dashboard, but integrate with Trello for the waterfall boards. We will look at their features, prices, differences, and more to help you pick the best one for your business.īottom Line Up Front Summary: If I had to pick just one, I’d definitely lean towards the more flexible and robust Notion platform here. This article will compare Notion vs Trello to see what sets these tools apart. Using project management tools like Notion vs Trello is one way to ensure that you complete your projects within the budget and on time. In actual fact, the bookkeeping records are only inwords, the professional term for each record being a " Journal Entry: (or a "journal voucher").Do you experience challenges with managing your business tasks and are looking for an efficient way to achieve your organization’s goals? Business success is tied to your ability to manage your projects well and avoid any costly errors.Īccording to a survey by the Project Management Institute(PMI), organizations waste about two trillion dollars every year due to poor project management practices. An additional stage that should be emphasized is that the first part (the T - Accounts) in fact serve us as a draft for the purpose of illustrating the records. The Cash Account is debited - according to Rule 2 in the table.Ĭomment: It is easy to remember that every expense account is debited (the expense is a negative matter from an economic point of view and it is a debt of the business).Similarly, all receipts are a credit (a credit is something positive from an economic point of view and it is to the credit of the business). The Income from the Rental Account (a profit and loss account) is a credit - as all receipts are a credit (Rule 3 in the table). The Max Account (a personal account) is credited - according to Rules 1 or 2. ![]() The Store Account (a real account) is debited - the transaction received a monetary value (Rule 2 in the table). The Electricity Expenses - (A profit and loss account) is debited - as every expense account is debited (Rule 3 in the table). The Goods Account (a real account) is credited - because the warehouse issued goods (Rule 2 in the table). ![]() The Cash Account (a real account) is debited - because the cash was received (Rule 2 in the table) The Waterman Account, (a personal account) is credited - as it is due to receive money (Rule 2 in the table). The Goods Account (a real account) is debited - because an account was received (Rule 1 in the table). This will be explained more fully later on.ģ.1.xx Cash payment, Expenses Voucher 001 We will practice making the bookkeeping records that are the subject of the above table (Comment: In the first part of the solution, the records will be presented in the form of a T account, and they will be presented textually in the second part. 953).ĥ.ĕ,1,xx We rented the store out for $ 700 cash (Invoice No.001) 1950)ģ.ē.1.xx We paid $ 200 cash for electricity expenses (Expense Voucher 001).Ĥ.Ĕ.1.xx We bought a store from Max for $ 20,000 (Invoice No. 123).Ģ.Ē.1.xx We sold part of the goods for $ 600 cash (Receipt No. When the account gives us money/the equivalentĪny account that ends with the words 'Expense Accounts'.Īny account that ends with the words 'Revenue Account'ġ.đ.1.xx We bought goods from Waterman for an overall sum of $ 1,000 (Invoice No. ![]() When the account received money/the equivalent When the person in whose name the account is kept is in credit with us When the person whose in whose name the account is kept is in debt to us BOOKKEEPING COURSE: THE DEBIT AND CREDIT RULES
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |