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Accounting All-in-One For Dummies
book

Accounting All-in-One For Dummies

by Ken Boyd, Lita Epstein, Mark P. Holtzman, Frimette Kass-shraibman, Maire Loughran, Vijay S. Sampath, John A. Tracy, Tage C. Tracy, Jill Gilbert Welytok
March 2014
Beginner to intermediate
744 pages
18h 7m
English
For Dummies
Content preview from Accounting All-in-One For Dummies

Book II

Recording Accounting Transactions

9781118758007-pp0201.tif

webextras.eps Check out www.dummies.com/extras/accountingaio for additional guidance on documenting your accounting transactions to leave a clear audit trail.

In this book…

  • Manage your accounting system to keep your books balanced. When you post entries to your accounting system, the total dollar amount of debit entries should equal the credits.
  • Track purchases, inventory, and costs, and pay your bills. For many companies, inventory is the largest cost to the business.
  • Record sales in cash and store credit and account for discounts, returns, and bad debt. These practices help you calculate total sales correctly.
  • Prepare and record payroll to keep track of employee compensation and payroll taxes. This is one of the most complex areas of accounting, because the rules on tax withholdings frequently change.
  • Account for Social Security and Medicare taxes, unemployment compensation, and workers’ compensation. Each of these entities receives reports on payroll withholdings, along with payments.
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Publisher Resources

ISBN: 9781118813652Purchase book