how do u do closing entries in accounting???
549520
closing entries are necessary end-of period steps to complete the accounting cycle and prepare the accounts for recording the transactions of the next accounting period.\n\nstep 1: Close Credit Balances in Revenues to Income Summary\n(Debit Revenue, Credit Income Summary)\n\nstep 2: Close Debit Balances in Expenses to Income Summary\n(Debit Income Summary, Credit Expenses)\n\nstep 3: Close Income Summary to Owner's Capital\n(Debit Income Summary, Credit Owner's Capital)\n\nstep 4: Close Withdrawals to Owner's Capital\n(Debit Owner's Capital, Credit Withdrawals)
615989
Check email.\n\nSort your tasks and projects --do the SHORTEST and SIMPLEST ones first.  Remember to log your time for each task.  Most of these are done on the computer.  Tax research itself is normally done on the computer nowadays.  A lot of the complicated accounting is done on "computerized spreadsheets" such as "Excel."  A lot of the accounting records reviewed and organizaed by an accountant these days are electronic in nature ("Quick Books" or "Quicken" or one of the computerized packages).  Most accountants and all young CPA's are very good with computers and databases.\n\nDocument your answers, research, and calculations (usually done electronically).\n\nAttend any training or meetings necesary.\n\nTalk to clients or other accountants on the phone about their problems and answer their questions.\n\nReview your time log before leaving for the day to insure its accuracy (this directly affects who will be billed for how much work).\n\nLeave at the end of the day.
241025
try this site for help\n\nhttp://www.futureaccountant.com/
403295
leave them open, closing them could hurt your credit score
454786
The revenue, expense and drawing accounts should all be closed to the retained earnings or capital account at the end of the year.\n\nCapital accounts (which are used only for sole proprietors and partnerships) should not be closed unless the business is closed and liquidated.  Even then, it should be one of the last accounts to close.
331981
Inventory - well just ask the accountant for a list of all purchases during the last two years, if they ask if you need it tomorrow, tell him or her that if you needed it tomorrow you would of asked for it tomorrow.\n\nThen count all the computers, monitors, and servers, printers, office desks, chairs, give a brief description of each and give them to the accountant to determine a replacement cost, and  a current market value... and again if they ask if you need it tomorrow, tell him or her that if you needed it tomorrow you would of asked for it tomorrow.\n\nIf anything goes wrong - blame it on the accountant...\n\nif you want any more advice on how to climb the ladder your going to have to send me money.
248208
The process of accounting after the journal entry is passed is mechanical and it can be mechanised by using the logical flow of information.....\n\nTherefore, in Computerised accounting, you only record a journal entry...and the rest is done by the computer..\n\n\nlearn the fundamental concepts here to have a wonderful understanding on the basics of accounting...\n\nhttp://www.futureaccountant.com/accounting-process/study-notes/\n\n\nhttp://www.futureaccountant.com/\n\nhttp://www.schoolingkids.com/
1182969
closing pitcher .. glad 2 help =)
760061
you need to set up two accounts \n\n1- Trust Account (actual money in the account) - Bank Account (separate from operating account)\n2- Trust account payable (your liabilities on the security deposits)- Liabilities\n\nThese two accounts should always be equal\n\nWhen writing Checks and Deposits, do so out of the Trust account and mark it as affecting The Trust Account Payables account.  \n\nIf doing journal entries you must debit one account and credit the other depending on whether you are taking money in or letting money out.\n\nThis will keep your equity equal because as you increase your bank account you are also increasing your liabilities.
1090153
What goes in: Every invoice or receipt that is paid out. Labor, lumber, permit fees, pizza for the local kids who might help, etc.\n\nIf you're computer-savvy, Microsoft Excel is a simple but competent way to keep track of the expenses. If not, then feel free to do it the old-fashioned way by pen and ink.\n\nSimplest way to organize it would be a sequential listing by month. At the end of the month, tally the month's expenditures. If you want information by category, e.g., how much have we spent on lumber to date, then you could make the colums as categories. In that case, a computer program such as Excel would come very much in handy but it's not critical.\n\nBest of success.
199089
keep tring it will work... ur question is to broad wat form are u tring to file need to explaine better for better help
107604
The process of accounting after the journal entry is passed is mechanical and it can be mechanised by using the logical flow of information.....\n\nTherefore, in Computerised accounting, you only record a journal entry...and the rest is done by the computer..\n\n\nlearn the fundamental concepts here to have a wonderful understanding on the basics of accounting...\n\nhttp://www.futureaccountant.com/accounting-process/study-notes/\n\n\nhttp://www.futureaccountant.com/\nhttp://www.schoolingkids.com/
1056748
My husband and I are opening our own business also and have heard some horror stories about friends of ours who tried to do their accounting themselves and ended up owing the IRS thousands.  I think it's worth it (especially for peace of mind) to go ahead and hire an accountant to do your taxes and who will guide you with the rest of your accounting also.  You can shop around and get quotes from different accountants and also ask other business owners in your area who they trust. :)
233483
Call him and point out his mistake.  If you've already sold it but havent closed you can cancel it, and in most states you have 3 business days after closing.
387215
write money enclosed on the outside.  and then glue it shut
739460
They want to see 2003 and 2005 to see continuity of operations.\n\nFirst tell the auditor that you do not have all your receipts and why you do not have them.\n\nTry to legally recreate them.  For example you purchased a typewriter for your business.  Get the instruction manual and warranty card for it, find a office supply cataloge that shows what the purchse price would have been then.   Get what ever support you can to justify your deductions.  Look at your credit card statements (get copies if you have to or download them).  If you went to a seminar in Miami call them and have them fax you a statement saying you were there and what the dates were, same with the hotel where you stayed.  Get the software books and boxes to prove you purchased them.\n\nOnce the auditor starts looking at your return he will narrow in on only a couple of areas.  You did not say what type of Schedule C you did but the usual places they go are Entertainment Expense and Travel Expense.  \n\nThe one thing he will do is ask you for all your bank statements.  I mean ALL of them(personal and business accounts).  Have them for him.  If you do not have them now call the bank to get copies, or download them off the net.  \n\nWhat he will do with the bank statements is add up all of the deposits that went into every account, subtract from this transfers that came from other accounts.  This is the income that you should have reported as Gross Receipts on your schedule C.  If not you better be able to account for every difference.  If it is higher he will increase your income by that amount.  \n\nIf there were deposits to your account for reasons other than business income then you need to show proof where it came from.  For example your brother gave you $5,000 as a birthday gift.  \n\nGive him every thing in a nice orderly package, tie each amount on the return to the package.  DO NOT GIVE HIM A SHOEBOX.  If the auditor feels you are not hiding anything then he not ask for more information if you are upfront with a lot of information.\nBut do not give him more than he really needs to know.\n\nIf he asks you "Do you know what time it is?" the correct answer is "Yes" the wrong answer is "It is 9:45am"\n\nIf you do not know the answer tell him "I will check and get that information for you"  Do not lie, make up information.  you will trip over your own toes.  Do not have any one else there with you, they will give out useless information that can bite you.\n\nBefore your first meeting you will get an IDR#1 this is called a Information Document Request #1 and will list every item on it that he will need.  It will narrow down where he will be looking at.\n\nAt the end of the first meeting he will ask you for more information.  Ask him for another IDR.  Do not give him more information unless it is listed on the IDR!  \n\nAlso keep a list of what information you do give him.\n\nIf you feel you are getting into trouble CALL A CPA from a local cpa firm spend the money because he may save you from thousands if you are really going to get into trouble.  Or talk to your friends, one of them may know someone who works at a firm that could advise you for a small fee.\n\nBe aware that Schedule C returns are the most audited 1040 returns out there.
281077
opening retained earnings in a profit and loss statement is the accumulated profits or losses from the companys formation up to the start of the current financial year. opening retained earnings plus the profit for the current year equals closing retained earnings at the year end.