Nanonets

FEBRUARY 28, 2024

Since the money account is obtaining income, then the debit section will show a gain and display an amount for the amount. For this transaction, the credit section will stay intact for this account. To retain the accounting equation's net-zero discrepancy, one asset account must enhance while another reduces by the same quantity.

General Ledger 52

General Ledger Data Entry Invoicing Accounts Payable 52

Nanonets

FEBRUARY 14, 2024

For example, all asset accounts might start with the number 1 (e.g., 1010 for Cash, 1020 for Accounts Receivable, etc.). Since the purchase was made on credit, also select the GL code for Accounts Payable (e.g., 2010 - Accounts Payable) to represent the liability created by this transaction.

General Ledger 52

General Ledger Accounts Payable Accounts Payable Accounting Software 52

Nanonets

FEBRUARY 8, 2024

Tipalti is a finance automation platform that has been around since 2010. Customers love the tax compliance features as well as the fact that most AP data entry work is done automatically with Tapalti. Paving the way during the early days of finance automation efforts, Tipalti has evolved with the needs of its users.

AP 52

AP Billing AR AR / AP 52