Guide to Finance

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Tower Of Terror Part 1

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In very simple and basic terms, it can be said that Bookkeeping is the recording of your company's Income and Expenses into a set of account books known as Ledgers (read section on Ledgers to know more on Ledgers), Income and Expenses are also known as Receipts and Payments, Inflows and Outflows, Revenues and Expenditures, depending on the accepted terminology used by your company, industry or trade.



-- The Double Entry System

The basis of a good bookkeeping practice is The Double Entry System. Many non-accountants and non-bookkeepers, these are people who are normally unfamiliar with bookkeeping and accounting principles, get lost in their bookkeeping from the very start, by not fully understanding Double Entry.

-- What is meant by Double Entry?

Simply put, Double Entry is to enter each piece of data, transaction or information twice (double) into your ledgers.

Whether the data, transaction or information is a sales invoice, a receipt issued for a payment received or a payment voucher for a payment made.

All these data will be entered once as a Debit and once as a Credit.

The end result would be, that by entering the same piece of data twice, once as a Debit and once as a Credit, the accounts therefore balances and leaves a balance of zero (0), when the total Debits and total Credits are deducted from each other.

For example, if you receive a payment of $100 for a Cash Sale, you would Debit the Cash or Bank Account and Credit the Sales Account, with the $100.

So when you prepare your Trial Balance (which will be explained in my article on Final Accounts), your Cash Account balance would have a Debit balance of $100 and your Sales Account balance would have a Credit balance of $100, meaning your Trial Balance balances.

-- Why Double Entry and not Single Entry?

Of course, some may argue that a Single Entry System is easier to use, since you only need to enter the data or information once.

But what has to be noted, is that a double entry system gives an automatic check and balance and therefore will alert you of any errors and/or omissions that may have occurred in your bookkeeping.

A single entry system will not allow you this check and balance.

So I will only discuss about The Double Entry System and will ignore the Single Entry System.
Tower Of Terror Part 1
Content is really important for webmasters. Why? When people surf the web, they are looking for information. They aren't looking for you specifically, unless you're well-known. If they visit your site and don't what they're looking for, they will leave quickly. And they probably won't return to your site. Well, they might stumble back onto your site, but not on purpose.

Quality sites provide quality content. Quality content helps you retain visitors. Visitors may spread the word about your site and thus attract new visitors.

Adding new high quality content to your site regularly is also beneficial. With more content, you will have more pages indexed by the search engines. More pages indexed means you will have more opportunities for people to find you via search engines.

So how exactly do you get content for your site?

1. Your unique knowledge

Everybody knows something others don't. Use your own unique insight and knowledge to provide content. Think of what activities you've participated in the past. Think of what you've learned through past experiences. Any experiences can help, whether at home, school, work, or anywhere else. Of course, providing your own content regularly can be very difficult.

2. Personal stories

Personal stories are the basis of some sites and blogs. Want to connect with your audience and let them know more about you? Use personal stories. However, if you don't want to be too personal, make sure you inject your personality into your writing. Personality differentiates you from the rest and can keep visitors coming back.

3. How-to guides

People have problems and like to figure out how to solve them. Had some problem you struggled with for a while? Did you eventually solve it? The way you solved it could be written into a how-to guide. Or write a how-to guide about your expert area. For example, if you're a technical computer whiz, you could write a how-to guide for fixing computers.

4. Do research

Do some research on the web. Use search engines, search directories, and follow links to find relevant sites. Do some research at your local library. Grab some books about your site's topic and start digging through them. Find local experts, teachers, and professors and ask them questions about your site's topic. When you research, note down interesting ideas and you'll undoubtedly learn more. You'll have more unique knowledge that you can turn into content. You might even discover something earth-shattering!

5. Subscribe to newsletters

Good newsletters are a great way to keep informed about a particular topic. They can keep you informed of offers that you may be able to provide on your own site. As well, they can keep you on top of what's happening in your area by providing time-sensitive content.
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About Author
Both Raja Idris Kamarudin & Derick Yung are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Raja Idris Kamarudin has sinced written about articles on various topics from Accounting Bookkeeping General Svc, Microsoft Excel Office. I have been in Management since the 70s, IT since the 80s and since the late 90s I began merging all my expertise into Internet Businesses that includes Accounting Software, Online Bookkeeping Services, Online Travel Booking System and Online Shopping Cat. Raja Idris Kamarudin's top article generates over 3600 views. Bookmark Raja Idris Kamarudin to your Favourites.

Derick Yung has sinced written about articles on various topics from Dancing, Make Money Online and Marketing. . Derick Yung's top article generates over 2900 views. Bookmark Derick Yung to your Favourites.
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EditorialToday Guide to Finance has 5 sub sections. Such as Introduction to Accounting, Payroll Information, Loan Guide, Tax Matters and Introduction to Finance. With over 20,000 authors and writers, we are a well known online resource and editorial services site in United Kingdom, Canada & America . Here, we cover all the major topics from self help guide to A Guide to Business, Guide to Finance, Ideas for Marketing, Legal Guide, Lettre De Motivation, Guide to Insurance, Guide to Health, Guide to Medical, Military Service, Guide to Women, Pet Guide, Politics and Policy , Guide to Technology, The Travel Guide, Information on Cars, Entertainment Guide, Family Guide to, Hobbies and Interests, Quality Home Improvement, Arts & Humanities and many more.
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