Audit- The process of of examining the financial records of a given business.
Receipt- A summary of something that has been purchased. This includes: date, item, time, price, etc.
Invoice- Contains similar information that would be found on a receipt, accept for the payment has not been made yet
Purchase Order- Record of what has been purchased, from who, the price and who took the order.
Packing Slip- A receipt that is used to prove the purchase of an item.
Deductions- Taxes taken out of a paycheck that go to the government.
Basic Accounting principles...
1. Keep up records Daily
2. Support records with receipts and invoices
3. Use business checks for business related expenses
Receipt- A summary of something that has been purchased. This includes: date, item, time, price, etc.
Invoice- Contains similar information that would be found on a receipt, accept for the payment has not been made yet
Purchase Order- Record of what has been purchased, from who, the price and who took the order.
Packing Slip- A receipt that is used to prove the purchase of an item.
Deductions- Taxes taken out of a paycheck that go to the government.
Basic Accounting principles...
1. Keep up records Daily
2. Support records with receipts and invoices
3. Use business checks for business related expenses
Freelancer- Working for multiple people instead of just one company