TRENDING PINOY

4. These are business expenses you owe. For example, if the Php 500 check you received is a loan, you need to note Php 500 under your accounts payable journal.
5. Under your “_____” heading, mark when a transaction was made.
7. Money that your business has on hand. This is not necessarily hard cash. If someone writes your business a Php 500 check, for example, it would be an increase in _____.
9. You should have a _______ for every type of interaction your business does.
11. Know that a journal is a list of every _____________ your company makes
12. An accounting journal records the details, date, and _________ of all the money flowing in and out of your business.
13. Find a time at least once a _______ to log all of your journal entries to make sure you don't lose any.
14. ________, Wages, Land: These three accounts, usually separate, detail the expenses needed to keep your business running.

1. The sooner you log a transaction in your journal, the less likely it is to fall through the cracks and be ___________.
2. This journal is essential to capture all weird or one-time transactions, like bad debts, inflation, selling equipment, etc.
3. The revenue generated by selling your business’s product.
6. You need to have accurate documentation to create an __________ accounting journal and ledger, so save everything you have that relates to finances for later use.
8. Save copies of all your business ____________, invoices, and debts
10. This is money that your business is owed.