Credit Card Sales Accounting

Credit card sales accounting will vary depending on whether or not the cash register is linked directly to the credit card company and cash is received immediately or whether payment is received from the credit card company at a later date.

As an example, suppose a business has credit card sales of 1,000 and the credit card company charges 2% (20) as a processing fee.

Credit Card Sales Accounting July 4th, 2017Team
Read more

What is an Invoice?

When a business sells goods on credit, it will issue a document to the buyer giving details of the goods and the prices. The document issued is called an invoice.

The business selling the goods will call it a sales invoice, and the buyer will call it a purchases invoice. An invoice is a legal document which can be used as evidence that the buyer owes money to the seller.

What is an Invoice? August 8th, 2017Team
Read more

Sales Revenue

In accounting Sales Revenue refers to the monetary amount from the sale of goods in which the business normally trades and which were bought for the purpose of resale. For this reason Sales Revenue will always affect the Stock (Inventory) of the business. If a business normally sells widgets then the ‘sale’ of for example, a motor vehicle used within the business, is not included in Sales Revenue.

Sales Revenue November 6th, 2016Team
Read more

You May Also Like

Related pages

sample chart of accounts for merchandising businessledger summarized in a single general ledgerperpetuity value formulairr excellmargin markup calculatorprepaid insurance normal balanceaging of accounts receivable formulaaccounting aptitude test questions and answersadvantages of imprest system of petty cashnpv in perpetuityaccrued service revenue journal entryjob costing spreadsheetvertical format of balance sheet in exceldouble entry cash book formatdebtors account receivablesample retained earnings statementbank reconciliation questions and answersis a prepaid expense an assetallowance for doubtful accounts entrybalance sheet offsetting exampleaccrual basis of accounting examplecost of goods sold perpetual inventory systemexamples of double entry journalslifo examplesprojected balance sheet format in excelmaterials quantity variancevariable cost per unit formulaperpetual cash flowannuity payment formulaamortized discountpv of annuity due tablefinding payback periodinstallment sales journal entriespetty cash register templatepresent value of annuity duebookkeeping debits and creditsdebtors days formulaaccounting equations cheat sheetpmt functionsaccrual deferralexample of a contra accountpremium bond examplewhat is deferred revenue expenditurevacation accrual formulaaccounts receivable flowchartbookkeeping accounts payable and receivableinvoice payment terms wordinginstallment loan exampleprepayment accounting definitionposting general ledgerpv of perpetuity formulabook keeping basicscontra in accounting examplecvp income statement formatcompound depreciation formulatvm calculator downloadpremium on bonds payable balance sheetretained profits definitionfuture value of lump sum calculatorsimple depreciation calculatorrent collected in advance isaccruals and prepayments journal entriescalculate lifoaccrued expense journal entryformula for npv in exceldefine purchase ledgerjournal entry for bad debteffective annual rate equationwhat is the normal balance of accumulated depreciationcurrent ratios and quick ratiossingle column cash book formathow to calculate interest rate on a loan in excelmarkup based on cost calculatorreducing balance interest formuladifference between notes payable and accounts payable