Accounting Definitions of Contra-Revenues vs Expenses Chron.com

Contra asset accounts are typically used for accumulated depreciation, amortisation, and other accounting adjustments. For example, a company might have a contra asset account for depreciation expense and a separate asset account for equipment cost. Trade discounts...

Contra Account Overview & Examples Lesson

And by comparing these contras against their corresponding parent accounts, you can better understand the actual value of the assets retained by your business. Because contra asset accounts are used so frequently, it’s worth spending a little bit more time on them...

The Ecommerce Guide to Bookkeeping Ecommerce Accounting

Debits and credits should always equal each other so that the books are in balance. Whether you do the bookkeeping yourself or hire someone to do it, certain elements are fundamental to properly maintaining the books. Some of these elements are done more regularly...

The Single Best Insurance Policy Every Small Business Needs

You can also search for businesses that serve the same target market as you but offer different products or services. For example, if you sell women’s clothing, you could partner with a jewelry store or a hair salon. When scaling your business, it’s important to keep...
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