by Billy | Sep 21, 2021 | Bookkeeping
If a customer returns a product, you debit sales returns and allowances and credit accounts receivable. Keeping these adjustments separate prevents errors and ensures transparency. A liability recorded as a debit balance is used to decrease the balance of a liability....
by Billy | Jul 21, 2021 | Bookkeeping
Break-even is the point at which revenue and total costs are the same, meaning the business is making neither a profit nor a loss. The break-even level of output informs a business of how many products it needs to sell to reach the break-even point (BEP). Using...
