Business Accounting

How to Reconcile Bank Transaction that is Less than Invoice Amount Due to Bank Fees and Merchant Fees Like Paypal and Stripe being Deducted

Sometimes when you sell something to someone online you might charge them $20. But when the money hits your bank account, it might be $18 - or an amount less than the invoice because bank or merchant fees (e.g. $18 because of a $2 merchant fee e.g. from paypal or stripe) have been

Continue reading

Receipt from Paypal for services delivered by company, who do I put as a supplier in supplier invoice - how to account for it?

When you put in your purchases as supplier invoices, you may look for documents to 'prove' your purchase.

Examples of these documents can be:

Continue reading

How to pay yourself from your business/from your company

You can pay yourself in many ways and depending on what type of structure you have for your business.

If you are a sole proprietor or sole trader, check out [How to pay

Continue reading

About the Accounting for Businesses category

This category is for questions about accounting that relates to running a business. Things like transactions for employees, business structures, how to do certain transactions relating specifically to running a business.

Continue reading

How to pay yourself as a sole trader or proprietor (simple answer and long version)

The simple answer is this. In your accounting system, all you have to do is create a transaction that does this:

DEBITS the Drawings Account (the Drawings Account is an Equity Account)

Continue reading

Message icon

Have A Question?

Get in touch!