All posts by: Jackie

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13th November 2017

A simple example of double entry bookkeeping

How would you go about setting up a business? The first thing you would probably do, (after working out a good Business Plan) would be to go and see your bank manager and open a business bank account. If you deposited £5,000 in the bank, the double entry would be: Dr (Debit) Bank     […]

4th November 2017

Debt Chasing Tools on Sage

Debt chasing can be time consuming, yet it must be done. How can Sage help you to save time? There are a number of debt chasing tools on Sage. In fact, there is a special area called Chase Debt. This is found in the Customer Tool Bar, under the Tasks section on the left of […]

16th October 2017

What is Double Entry Bookkeeping?

Double entry bookkeeping is the definitive way of ensuring that every transaction is captured and entered into your bookkeeping. It ensures that nothing is missed. It was designed and used in the Middle-Ages in Italy and became widespread. No system has ever replaced it. How does it work? There are only 6 types of transactions […]

9th October 2017

What is the Accounting Equation?

If you were to start learning bookkeeping, this would likely be part of the first lesson. The Accounting Equation is very easy to understand. See what you think: ASSETS          –          LIABILITIES          =          CAPITAL We use these terms in everyday […]