Bookkeeping - Revision history

Maintenance script at 07:03, 23 February 2026

2026-02-23T07:03:11Z

← Older revision		Revision as of 07:03, 23 February 2026
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	* '''Journal Proper:''' This book captures everything that does not fit into the other categories, including correcting entries and recording unusual transactions.		* '''Journal Proper:''' This book captures everything that does not fit into the other categories, including correcting entries and recording unusual transactions.

	==== Why Use These Books ====		=== Why Use These Books ===
	Having these different books offers several benefits:		Having these different books offers several benefits:

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	* Simplifies Ledger Work: Information from these books can be posted directly into the main ledger, making the overall accounting process smoother.		* Simplifies Ledger Work: Information from these books can be posted directly into the main ledger, making the overall accounting process smoother.

	==== How to Use These Books ====		=== How to Use These Books ===
	'''Cash Book and Petty Cash Book:''' For handling all cash-related transactions or small expenditures. For a food truck, this means tracking daily earnings and minor purchases, streamlining the management of cash flow.		'''Cash Book and Petty Cash Book:''' For handling all cash-related transactions or small expenditures. For a food truck, this means tracking daily earnings and minor purchases, streamlining the management of cash flow.

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	Depreciation serves several purposes:		Depreciation serves several purposes:

	* Fair Financial Picture: It ensures that ~~[[Financial_Statements\|~~financial statements]] accurately reflect the current value of assets and the cost of using them.		* Fair Financial Picture: It ensures that financial statements accurately reflect the current value of assets and the cost of using them.
	* Cost Matching: Depreciation aligns the cost of using an asset with the income it generates, providing a more accurate picture of profitability.		* Cost Matching: Depreciation aligns the cost of using an asset with the income it generates, providing a more accurate picture of profitability.
	* Tax and Reporting: It allows businesses to deduct the depreciation expense from their income, potentially reducing the tax liability.		* Tax and Reporting: It allows businesses to deduct the depreciation expense from their income, potentially reducing the tax liability.

Maintenance script at 12:41, 21 February 2026

2026-02-21T12:41:41Z

Show changes

Maintenance script: Wiki review: cross-links, dedup sections, fix videos

2026-02-21T05:04:41Z

Wiki review: cross-links, dedup sections, fix videos

← Older revision		Revision as of 05:04, 21 February 2026
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	If "Gourmet on Wheels" has a batch of avocados bought for guacamole and expects they can only make and sell guacamole worth $300 from them, with an extra $50 in costs to prepare and serve, the NRV would be $250 ($300 expected sales - $50 costs). If the avocados were initially bought for $300, they'd now be valued at $250, the NRV, because it's lower.		If "Gourmet on Wheels" has a batch of avocados bought for guacamole and expects they can only make and sell guacamole worth $300 from them, with an extra $50 in costs to prepare and serve, the NRV would be $250 ($300 expected sales - $50 costs). If the avocados were initially bought for $300, they'd now be valued at $250, the NRV, because it's lower.

			== See Also ==
			* [[Accounting_Basics\|Accounting Basics]]
			* [[Financial_Statements\|Financial Statements]]
			* [[Financial_Management\|Financial Management]]


	== Recommended Videos ==		== Recommended Videos ==

Maintenance script: Fix videos: replace with verified YouTube links

2026-02-21T04:00:12Z

Fix videos: replace with verified YouTube links

← Older revision		Revision as of 04:00, 21 February 2026
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	{{video		{{video
	\|url=https://www.youtube.com/watch?v=yYX4bvQSqbo		\|url=https://www.youtube.com/watch?v=yYX4bvQSqbo
	\|description=~~Related educational video~~		\|description=ACCOUNTING BASICS: a Guide to (Almost) Everything
	}}		}}

	=== Double-Entry Bookkeeping Explained ===		=== Double-Entry Bookkeeping Explained ===
	{{video		{{video
	\|url=https://www.youtube.com/watch?v=~~VhwZ9t2b3Zk~~		\|url=https://www.youtube.com/watch?v=Fi1wkUczuyk
	\|description=~~Related educational video~~		\|description=FINANCIAL STATEMENTS: all the basics in 8 MINS!
	}}		}}

Maintenance script: Fix video embeds: use {{video}} template

2026-02-21T03:25:32Z

Fix video embeds: use {{video}} template

← Older revision		Revision as of 03:25, 21 February 2026
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	=== Bookkeeping Basics for Beginners ===		=== Bookkeeping Basics for Beginners ===
	{{~~#ev~~:youtube\|~~yYX4bvQSqbo~~}}		{{video
			\|url=https://www.youtube.com/watch?v=yYX4bvQSqbo
			\|description=Related educational video
			}}

	=== Double-Entry Bookkeeping Explained ===		=== Double-Entry Bookkeeping Explained ===
	{{~~#ev~~:youtube\|~~VhwZ9t2b3Zk~~}}		{{video
			\|url=https://www.youtube.com/watch?v=VhwZ9t2b3Zk
			\|description=Related educational video
			}}

	== Test Your Knowledge ==		== Test Your Knowledge ==

Maintenance script: Content overhaul: enhanced with simulation content

2026-02-21T02:43:08Z

Content overhaul: enhanced with simulation content

@@ Line 1: / Line 1: @@
+{{Panel|Understanding Your Books|Even though Business Heroes does the bookkeeping for you, the best players understand what the numbers mean. Checking your daily income vs. expenses helps you spot trends, find waste, and optimise your operations.}}
 == '''Recording Business Transactions''' ==
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 If "Gourmet on Wheels" has a batch of avocados bought for guacamole and expects they can only make and sell guacamole worth $300 from them, with an extra $50 in costs to prepare and serve, the NRV would be $250 ($300 expected sales - $50 costs). If the avocados were initially bought for $300, they'd now be valued at $250, the NRV, because it's lower.

Thor at 06:30, 14 March 2024

2024-03-14T06:30:12Z

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Thor: Created page with " Category:Accounting"

2024-03-14T04:41:56Z

Created page with " Category:Accounting"

New page

[[Category:Accounting]]