journal entries

A journal entry is a record of a business transaction in your business books or accounting software. In double-entry accounting each transaction is at least two journal entries.

A transaction can affect many other aspects of your business accounts and are often created for you automatically when you enter an invoice, purchase, payment etc.

Most of the time a bookkeeper double checks all journal entries at the end of every month or when they reconcile your bank accounts. A transaction can affect:

* cash flow (revenue or expense)
* how much money is owed (liability)
* what a business owns (assets)
* the value of the business itself (equity)
* how tax is treated

These training courses will teach you how to create and edit journal entries using popular software programs, Xero, MYOB and QuickBooks Online.

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