What is a sales invoice in accounting terms?

Answer A sales invoice is an essential source document used to validate several pieces of accounting information. For every sale that is made, an invoice is generated. Revenue, accounts receivable, invent... Read More »

Top Q&A For: What is a sales invoice in accounting terms

How do I charge sales tax on an invoice?

Charging Sales TaxFill out the top part of the invoice with the price of the goods or service. After entering all prices, add up all items costs and enter it on the line that says, "Subtotal." On t... Read More »

What is reconciliation in accounting terms?

Reconciling an account is the same as balancing your checkbook. It means that you are using a period end statement with a beginning and ending balance, and matching it against your own numbers.Def... Read More »

What is goodwill in accounting terms?

In accounting terms, goodwill is an intangible asset with no physical existence. Goodwill is listed as an asset on the balance sheet. It must be tested for loss in value annually.DefinitionGoodwill... Read More »

What Is Coding in Accounting Terms?

Coding in accounting is the process of assigning numbers or letters to data to create a fast-search database. Accounting codes are not universal as every accountant, accounting firm, institution or... Read More »