Visit the website and take a quiz on accounting basics to test your knowledge. Net income is the last line item on the income statement proper. Some income statements, however, will have a separate section at the bottom reconciling beginning net income recognition always increases: retained earnings with ending retained earnings, through net income and […]
To get your company’s net income, subtract income tax from pre-tax revenue. This will provide you with a comprehensive picture of your business’s progress and enable you to determine how profitable it has been. The next step is determining how much profit the business generated throughout the reporting period. The income includes all the money […]
In the double-entry accounting system, accounts payable is one side of a ledger entry. Errors from outside the company can also compromise the integrity of the financial data. Automated processes reduce the risk of this occurrence and capture information from the original invoice so you can verify accuracy. Want More Helpful Articles About Running a […]