Home
Search results “Accounting purchase returns”
Subsidiary Book #1 (Purchase & Purchase return a/c, Sales and Sales return a/c) :-by kauserwise
 
30:19
▓▓▓▓░░░░───CONTRIBUTION ───░░░▓▓▓▓ If you like this video and wish to support this kauserwise channel, please contribute via, * Paytm a/c : 7401428918 * Paypal a/c : www.paypal.me/kauserwisetutorial [Every contribution is helpful] Thanks & All the Best!!! ─────────────────────────── Here is the video about Subsidiary Book , and in this video we discussed Bills receivable, Bills payable and Journal Proper with solved problem in simple manner. Hope this will help you to get the subject knowledge at the end. Thanks and All the best. To watch more tutorials pls visit: www.youtube.com/c/kauserwise * Financial Accounts * Corporate accounts * Cost and Management accounts * Operations Research Playlists: For Financial accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnojfVAucCUHGmcAay_1ov46 For Cost and Management accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnpgUjlVR-znIRMFVF0A_aaA For Corporate accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnorJc6lonRWP4b39sZgUEhx For Operations Research - https://www.youtube.com/playlist?list=PLabr9RWfBcnoLyXr4Y7MzmHSu3bDjLvhu
Views: 166157 Kauser Wise
Merchandising: Purchase Discounts, Purchase Returns, Purchase Allowances - Accounting video
 
09:18
A purchase discounts and purchase returns and allowances example. Other videos in this series: Part 1 - Operating Cycle, Inventory, and Purchase Discount Terms Part 3 - Selling Inventory Part 4 - Adjusting and Closing Part 5 - Income Statements and Business Evaluation For more accounting/how to eLectures (and accompanying lecture notes), blog and a discount textbook-store visit www.TheAccountingDr.com Please note that videos may require Flash media and may not play on devices without Flash capabilities (i.e. iPad).
Accounting - Purchases & Purchases Returns Book - Day Books
 
12:09
This video tutorial looks at how to complete the Purchases & Purchases Returns Day Books.
Views: 779 ExamRevision
Accounting Process - The Ledger Accounts for Purchases, Returns & VAT
 
07:29
This video tutorial looks at the how to complete the Purchases, Sales, Returns & VAT day books.
Views: 2463 ExamRevision
Purchase Return Book Case Study -  Accounting Basics - A Complete Study
 
05:18
Did you liked this video lecture? Then please check out the complete course related to this lecture, ACCOUNTING BASICS A COMPLETE STUDY with 300+ Lectures, 28+ hours content available at discounted price (only Rs.640)with life time validity and certificate of completion. https://www.udemy.com/fundamentals-of-accounting-a-complete-study/?couponCode=YTBABCS12 ---------------------------------------------------------------------------------------------------------------- Welcome to one of the comprehensive ever course on Accounting Basics. This course starts from “What is Accounting”, “Need for Accounting” to various Practical aspects in Accounting. Enjoy lectures for each and every concept in accounting presented in digital hand written format followed by Solved Case Studies Video. New videos are being added at frequent intervals and this course will be the longest one in Accounting soon. ---------------------------------------------------------------------------------------------------------------- Welcome to Accounting Basics - A Complete Study Course! This is one of the comprehensive course in Fundamentals of Accounting covering theory as well as practice. In this course, you will learn Fundamentals of Accounting, step by step covering the following: Section 1: a) Introduction to Accounting; b) Book Keeping; c) Accounting – Objectives and Process; d) Accounting Cycle; e) Accountancy, Accounting and Book Keeping; f) Users of Accounting Information; g) Branches of Accounting; h) Basic Accounting Terms; i) Basic Assumptions in Accounting; j) Basic Concepts in Accounting; k) Modifying Principles of Accounting; l) Accounting Standards; Section 2: m) Double Entry System in Accounting; n) Accounting Equation; o) Golden Rules of Accounting; Section 3: p) Source Documents; q) Cash Memo; r) Invoice; s) Receipt; t) Debit Note; u) Credit Note; v) Pay in Slip; w) Cheque; x) Vouchers; Section 4: y) Books of Original Entry; z) Journal and Format aa) Steps in Journalising; bb) Journal Illustrations; cc) Compound Journal Entry; Section 5: dd) Ledger; ee) Utility of Ledger; ff) Format of Ledger; gg) Posting; hh) Procedure for Posting; ii) Posting of Compound Journal Entry; jj) Posting the Opening Entry; kk) Balancing an Account; ll) Significance of Balancing; mm) Balancing of Different Accounts; nn) Procedure for Balancing; Section 6 - covering Trial Balance and Final Accounts. This course is structured in self paced learning style. Video lectures are used for delivering the course content. Take this course to create strong foundation in fundamentals of accountancy. • Category: Business What's in the Course? 1. Over 206 lectures and 20 hours of content! 2. Understand need and importance of Accounting 3. Understand Book Keeping, Objectives and Advantages 4. Understand Accounting Process, Accounting Cycle, 5. Understand Users of Accounting Information 6. Understand Branches of Accounting 7. Understand Basic Accounting Terms 8. Understand Accounting Assumptions, Concepts and Principles 9. Understand Rules of Accounting 10. Understand Journal, Ledger, Trial Balance and Final Accounts Preparation Course Requirements: 1. No basic knowledge is required 2. Students can approach this course with fresh mind Who Should Attend? 1. Any one interested in Learning Accountancy 2. Accounting / Finance / Science Students 3. Entrepreneurs
Views: 1201 CARAJACLASSES
জাবেদা পর্বঃ ৫ ক্রয় ফেরত, accounting purchase return
 
09:50
আমার ফেসবুক পেজের লিংকঃ- https://www.facebook.com/businessscho... আমার ফেসবুক গ্রুপের লিংকঃ- https://www.facebook.com/groups/17341... প্রয়োজনে কথা বলতে পারেন এই নাম্বারে: 01766966454 ( রাত ১০টা থেকে রাত ১১টার মধ্যে) জাবেদা পর্বঃ ৫ ক্রয় ফেরত, accounting purchase return
Views: 306 Business School
Example Purchase Return Financial Accounting CPA Exam FAR
 
01:28
Webiste: www.farhatlectures.com Like us on Facebook: https://www.facebook.com/accountinglectures Visit the website where you can search using a specific term: http://www.farhatlectures.org/ Connect with Linked In: https://www.linkedin.com/in/mansour-farhat-cpa-cia-cfe-macc-2453423a/
Accounting for Purchases Perpetual Inventory Financial Accounting FAR Exam
 
15:07
Webiste: www.farhatlectures.com Like us on Facebook: https://www.facebook.com/accountinglectures Visit the website where you can search using a specific term: http://www.farhatlectures.org/ Connect with Linked In: https://www.linkedin.com/in/mansour-farhat-cpa-cia-cfe-macc-2453423a/ II. Accounting for Merchandise Purchases The invoice serves as a source document for this event. A Purchases without Cash Discounts. 1. Entry to record purchase: debit Inventory, credit Cash or Accounts Payable. 2. Trade Discounts: deductions from list price (catalog price) to determine the invoice price (actual selling price). Trade discounts are not entered into accounts. B. Purchase With Cash Discounts 1. Credit terms describe cash discounts offered to purchasers by seller for payment within a specified period of time called the discount period. 2. Cash Discounts- granted by the seller to encourage buyers to pay the amount they owe earlier. Buyers view cash discounts as purchase discounts and sellers view them as sales discounts. 3. Example: credit terms, 2/10 n/30, offer a 2 % discount if invoice is paid within 10 days of invoice date, if not full payment is due within 30 days of invoice date. 4. Entry for buyer for purchase using full invoice, gross method is: debit Merchandise Inventory and credit Accounts payable. 5. Payment within Discount Period: debit Accounts Payable (full invoice amount), credit Cash (full invoice – discount), credit Inventory (amount of discount). 6. Managing Discounts: Missing out on cash discounts can be very costly. A system should be set-up to ensure that all invoices are paid on the last day of discount period. 7. Payment after Discount Period: debit Accounts Payable and credit Cash. C. Purchases with Returns and Allowances 1. Purchase allowances is a reduction in the cost of defective merchandise that a buyer acquires. 2. Purchases returns are merchandise a buyer acquires but then returns to the seller. 3. A debit memorandum informs the seller of a debit made to the seller’s account payable in the buyer’s records. 4. Entry on buyer’s books: debit Accounts Payable or Cash (if refund given) and credit Inventory. 5. Discounts can only be taken on the remaining balance on the invoice if a return is made before payment is made. D. Purchases and Transportation Costs - the point at which ownership is transferred (called FOB or free on board). Determines who is responsible for paying any freight costs and/or bearing any loss. Two alternative points of title transfer are: 1. FOB shipping point—title transfers at shipping point and buyer pays shipping costs. a. Increases cost of merchandise (cost principle) b. Debit Inventory, credit Cash or Accounts Payable (if to be paid for with merchandise later) 2. FOB destination—title transfers at destination and seller pays shipping costs. a. Operating expense for seller b. Debit Delivery Expense and credit Cash.
Ch7 Purchases and Purchase Returns
 
06:09
Stages of accounting Books of prime entry Reasons for using books of PE Entries Analysed Purchases Day Book
Views: 109 Open Free
Accounting | Basic Accounting term | Lesson 2.7 | Goods; Purchases; Sales; Purchases & Sales Return
 
10:16
In this Video meaning & Concept of 'Goods' is explained. Besides Other related terms such as Where the term 'Purchases' and 'Sales is used in Accounting. Besides concepts & meaning of Purchases return and Sales return are also explained in detail in this video
Views: 3750 Najeeb Hashmi
Purchase Return
 
05:43
This video explains the process of Purchase Return Transaction in PHARMACC and its Accounting and GST Effects
Views: 289 Mandar Walvekar
How to Create Purchase Return in QuickNtree Accounting Software
 
00:39
How to Create Purchase Return in QuickNtree Accounting Software
Accounting for 1st year Varsity: Return Credit Purchase
 
04:07
Also: 1. Return Credit Purchase 2. Cash Sales 3. Credit sales 4. Credit sales Return 5. Cash sales Return
Views: 658 Tutormeonlineza
Vendor Returns Processing and Accounting
 
04:47
Demo of vendor returns in Acumatica 2018 R2. Learn how to make a purchase return and understand the back end accounting process options. See the differences between stock items and non-inventoried goods.
Views: 130 Douglas Johnson
Cloud Accounting Course - Chapter 3C/ 10 - How to record Purchase return
 
02:28
At the end of this video, you should know: 1. What a debit note is and when it is issued 2. How to prepare a debit note using Reach Accounting Software
Views: 27 Reach Accountant
5 Purchases Return & Sales Return In Busy Accounting Software +91 9210161132
 
04:52
Advance Course Training Course For More Details Log on www.Youtube.com and Call - +91 9210161132 Mail us - [email protected]
Sales & Purchase Return Entry In Miracle Accounting Software [Lesson:10]|- Accounting Tips
 
02:35
Namasar Dosto, Is Video Main Aapko Bataya Hai Ki Aapne Kiya Hua Sales Return Hota Hai To Aap Uski entry kaise kar sakte hai miracle accounting software main aur agar aap ne kiya hua purchase return kar rahe hai to uski entry kaise kar sakte hai aur mujhe puri ummid hai ki is video ko pura dekhne ke bad aap Sales/Purchase Return Ki entry karna sikh jayenge. Miracle Accounting Software Sales return/Purchase return Sales/Purchase Return Credit/Debit Note.
Views: 4913 Accounting Tips
SQL ACCOUNTING SYSTEM GST 017 PURCHASE RETURN
 
03:48
www.syntech.com.my SQL Accounting System Purchase Return is to allow you to return stock back to supplier. Remember, Tax Invoice must be issue before this transaction, and Purchase Invoice No, Purchase Invoice Date and Reson must be stated in the Purchase Return.
Views: 1565 syntaxtechnologies
Intro to Financial Accounting: Merchandiser Financial Accounting
 
01:15:01
Introduction to Financial Accounting Professor Alexander Sannella Lecture 10 0:15 Merchandiser Financial Statements 2:29 Balance Sheet Example Learning Objective 2 6:10 Perpetual vs. Periodic Inventory Systems 8:12 Example 12:14 Pure Periodic System 13:06 Perpetual Inventory Systems 15:03 Summary 18:27 Example 22:16 Purchase Invoice 23:43 Purchase of Inventory: Journal Entries 24:11 Purchase on Credit 26:20 Transportation Costs 26:51 FOB Shipping Point 27:11 FOB Destination 33:58 Journal Entry (FOB Shipping) 35:38 Purchase returns and allowances 37:48 Journal Entry 44:40 Purchase Discounts 46:37 Journal Entry Questions and Explanations 51:29 Question 1 53:45 Question 2 Learning Objective 3 57:25 Sales Invoice 57:48 Recording a Sale 58:14 Summary 58:39 Journal Entry (cash sale) 1:00:28 Journal Entry (credit sale) 1:03:00 Sales Returns (2 entries) 1:04:27 Journal Entries (sales returns) 1:07:30 Sales Allowances (no restocking) 1:09:50 Sales Discounts There are two approaches to accounting for inventory; perpetual inventory accounting and periodic inventory accounting. In the periodic inventory accounting approach, purchases for the period are added to beginning inventory to arrive at an interim total referred to as cost of goods available for sale. At the end of the period, the inventory is physically counted. Subtracting the end-of-period inventory amount from the cost of goods available for sale leads to cost of goods sold. A purely periodic system is unrealistic for a large business. A business cannot wait until the endof the period and a physical count to determine its ending inventory and cost of goods sold (would never make it in time for financial statements). The periodic approach is most appropriate for inexpensive inventory that is sold by small shops that do not have opscan or point-of-sale capability. In a perpetual inventory system, detailed records of the cost of each inventory item are maintained and the cost of each item sold is determined from the records when the sale occurs. Under a perpetual system, inventory accounts are continually updated for acquisitions and sales and the cost of goods sold (to be charged against income) is determined after each sale in real time. Gross profit margins can also be determined at the point of sale in real time. The merchandise inventory is increased for additional costs of purchases, such as freight costs. Freight costs are the costs of transporting the goods to the buyer's place of business. FOB, or "free-on-board" terms will determine which party pays the freight fee. FOB shipping point means that goods are placed free on board the common carrier by the seller, and the BUYER pays the freight costs. FOB destination means that the goods are placed free on board at the buyer's place of business, and the seller pays the freight costs. Freight costs incurred by the seller on outgoing merchandise are an operating expense and are debited to "Freight out" or deliver expense, and cash is credited. Freight-out is classified as an operating expense by the seller and will be discussed with accounting for merchandiser sales. When the purchaser pays the freight, merchandise inventory is debited and cash is credited (freight in). The purchaser may return the merchandise, or choose to keep the merchandise if the supplier is willing to grant an allowance (deduction) from the purchase price. In a perpetual system, two entries must be made for every sale: (1) record the sale and (2) record the reduction of inventory. The sales invoice is the documentation used for recording the sale. Because we are using a perpetual approach to accounting for th e inventory, we will actually be making two entries. The first entry will record the sale and the related receipt of cash or account receivable. The second entry will record the reduction of inventory and the related cost of goods sold for this particular transaction. If we need to accept a sales return, in a perpetual system, we also need to make two entries. The first entry will show the reduction in accounts receivable, with a corresponding entry in sales returns and allowances. The second entry will show the merchandise inventory being restocked, with the returned merchandise with a corresponding entry to reduce the cost of goods sold. Sales returns and allowances is a contra revenue account. To receive additional updates regarding our library please subscribe to our mailing list using the following link: http://rbx.business.rutgers.edu/subscribe.html
Return Inward & Return Outward In Accounting ? Urdu / Hindi
 
01:57
This Video Give The Basic Concept of Return Inward & Return Outward In Accounting (Urdu / Hindi) ? ZPZ Education Channel Link: www.youtube.com/channel/UCwFzeQDf9cGm_ZeTXV_t5SA
Views: 8345 ZPZ Education
ACCOUNTING EQUATION - 4  Credit Purchases And Returns
 
04:18
ACCOUNTING EQUATION - 4 Credit Purchases And Returns
Views: 8 Louwtjie Venter
Accounting for Merchandise Operations | Financial Accounting | CPA Exam FAR | Chp 5 p 1
 
01:00:56
Sales revenues, cost of goods sold, gross profit, CPA exam, sales returns and allowance, sales discount, Merchandising operation, purchase of inventory, FOB shipping, FOB destination, perpetual inventory, periodic, purchase discount, purchased invoice, discount terms, net purchased, freight in, purchase returns, purchase allowances, purchased returns and allowances, FIFO, LIFO
Example Accounting For Sales and Sales Return Using Perpetual Inventory Financial Accounting CPA
 
02:22
Webiste: www.farhatlectures.com Like us on Facebook: https://www.facebook.com/accountinglectures Visit the website where you can search using a specific term: http://www.farhatlectures.org/ Connect with Linked In: https://www.linkedin.com/in/mansour-farhat-cpa-cia-cfe-macc-2453423a/ III. Accounting for Merchandise Sales—involves sales, sales discount, sales returns and allowances and cost of goods sold A. Each sale of merchandise transaction involves two parts (resulting in two journal entries; the revenue entry and the cost entry. 1. Recognize revenue—debit Accounts Receivable (or cash), credit Sales (both for the invoice amount). 2. Recognize cost—debit Cost of Goods Sold, credit Inventory (both for the cost of the inventory sold). C. Sales without Cash Discounts – Revenue side: Inflow of Assets. Debit Accounts Receivable (or Cash) and credit Sales. Cost side: Outflow of Assets: debit Cost of Goods Sold and credit Inventory. B. Sales with Cash Discounts – 1. Sales on Credit: revenue side using the gross method is a debit Accounts Receivable and a credit Sales. 2. Buyer Pays within Discount Period: debit Cash (invoice amount minus discount), debit Sales Discounts (discount amount), credit Accounts Receivable (full invoice amount). 3. Buyer Pays after discount period—debit Cash, Credit Accounts Receivable (full invoice amount). 4. Sales Discounts is a contra-revenue account—subtraction from Sales. C. Sales with Returns and Allowances 1. Sales returns—merchandise that a customer returned to the seller after a sale. 2. Sales allowances—reductions in selling price of merchandise sold to customers (usually for damaged merchandise that a customer is willing to keep at a reduced price). Chapter Outline 3. Returns Received by Seller. Seller issues refund for returned goods. Entry: debit Sales Returns and Allowances and credit Cash; additional entry to restore cost of returned goods to inventory if merchandise is returned and it is salable: debit Inventory, credit Cost of Goods Sold. 4. Seller receives returned goods into inventory: seller also reduces cost of sales. 5. Return goods not defective: if inventory can be resold, seller debits Inventory and credits Cost of Goods Sold. 6. Returned Goods are defective: debit Inventory for estimated value; debit Loss from Defective Merchandise (difference between cost and estimated value) and credit Cost of Goods Sold (for cost). 7. Sales Returns and Allowances is a contra-revenue account that is subtracted from Sales. 8. Credit Memorandum—issued by the seller to inform buyer of a credit made to buyer’s Accounts Receivable in seller’s books. 9. Allowances Granted by Seller: merchandise which is defective but buyer decides to keep it, seller will record a debit to Sales Returns and Allowances and a credit to Cash for the reduction in price. If seller has not yet collected cash for goods sold, seller could credit buyer’s Accounts Receivable.
Merchandising Operation | Financial Accounting | CPA Exam FAR | Ch 5 P 1
 
17:35
Inventory, perpetual, periodic, operating cycle, retailer, wholesaler, Merchandising operation, purchase of inventory, FOB shipping, FOB destination, perpetual inventory, periodic, purchase discount, purchased invoice, discount terms, net purchased, freight in, purchase returns, purchase allowances, purchased returns and allowances,
Selling Inventory; Sales Returns, Sales Allowances, Sales Discounts - Accounting video
 
04:45
Discussion on the selling of inventory: the journal entries recorded as well as a short review on sales returns and allowances and sales discounts as well as F.O.B., freight-in, freight-out, and delivery expense. Other videos in this series: Part 1 - Operating Cycle, Inventory, Purchase Discount Terms Part 2 - Purchase Discounts and Purchase Returns and Allowances Example Part 4 - Adjusting and Closing Part 5 - Income Statements and Business Evaluation For more accounting/how to eLectures (and accompanying lecture notes), blog and a discount textbook-store visit www.TheAccountingDr.com Please note that videos may require Flash media and may not play on devices without Flash capabilities (i.e. iPad).
Basic Accounting Terms - What is a Sale Return & Purchase Return? Class 11
 
02:54
In this video, i will teach you the basic and important concepts of basic accounting terms in accounting.
Sales Returns and Allowances | Intermediate Accounting | CPA Exam FAR | Chp 18 p 6
 
20:32
Sales Returns and Allowances  16. (L.O. 3) A  company grants  customers the  right of  return for  sales items for  various  reasons  (e.g., dissatisfaction with the product) and to receive any combination of the following:  a.  A full or partial refund of any consideration paid.  b.  A credit that can be applied against amounts owed, or that will be owed, to the seller.  c.  Another product in exchange.  17. To account for sales returns and allowances, a company should recognize the following:  a.  Revenue  for  the  transferred  products  in  the  amount  of  consideration  to  which  the  company is reasonably assured to be entitled (considering the products to be returned or  allowance granted).  b.  An  asset  (and  corresponding  adjustment  to  cost  of  goods  sold)  for  the  goods  returned  from customers.  The Sales Returns and Allowances account is a contra  revenue account. A Returned Inventory  account is used to separate returned inventory from regular inventory.   18. At the end of the reporting period, an Allowance for Sales Returns and Allowance account is a  contra  account  to  Accounts  Receivable,  and  an  Estimated  Inventory  Returns  account  will  generally be added to the Returned Inventory account.
Sales of Merchandise Inventory | Financial Accounting | CPA Exam FAR | Ch 5 P 3
 
17:52
Sales revenues, cost of goods sold, gross profit, CPA exam, sales returns and allowance, sales discount, Merchandising operation, purchase of inventory, FOB shipping, FOB destination, perpetual inventory, periodic, purchase discount, purchased invoice, discount terms, net purchased, freight in, purchase returns, purchase allowances, purchased returns and allowances, FIFO, LIFO
Financial Accounting: Merchandising Operations
 
01:18:57
Introduction to Financial Accounting Merchandising Operations (Chapter 5) February 25th, 2013 by Professor Victoria Chiu The main objectives of this lecture is to describe and illustrate merchandising operations & the two main types of inventory systems. We also aim to master how to account for the purchase & sale of inventory using a perpetual system. How to adjust & close the accounts of a merchandising business, as well as preparing merchandisers' financial statements is covered, as well as using the gross profit percentage & inventory turnover to evaluate the health of a business. The operating cycle consists of the company purchasing inventory from the vendor / supplier, & then collects cash by selling the inventory to a customer. Merchandisers are businesses that sell a product to customers. New accounts that they use (that we didn't already cover) include inventory (a current asset account listed on the balance sheet). Inventory is the merchandise that a company holds for sale to customers. Sales revenue and cost of goods sold (type of expense) are also two new accounts we deal with (listed on the income statement). Sales revenue is the retail price of the inventory sold to the customer & cost of goods sold is the cost (to the company) of the inventory sold to the customer. A perpetual inventory system keeps a running computerized record of inventory (thanks to bar codes). A contemporary perpetual inventory system constantly records units purchased & cost amount, the units sold & sales & cost amounts, & the quantity of inventory on hand & its cost. It also better controls inventory due to the fact the inventory & purchasing systems are integrated with accounts receivable & sales. Despite it being computerized, physical counts do occur once every year to double check that the ending inventory listed is the correct amount (since spoilage, theft, & other factors may result in loss of inventory without a sale). The perpetual system is most popular. Bar cods are used by businesses today to streamline many formerly repetitive & labor intensive processes related to inventory. It is used to record sales & cost of goods sold, as well as to update the inventory count. It also updates purchasing & generates purchase orders (replenishes inventory by communicating with the company's purchasing systems). Under the periodic inventory system, goods are counted periodically to determine quantity. Under this system, businesses physically count their inventories periodically to determine the quantities on hand. It is used by small businesses, restaurants, & small retail stores (that lack optical-scanning cash registers). It is normally used for relatively inexpensive goods. However, it is less popular than the perpetual system due to computerized inventory systems being much easier & more convenient to use. When inventory is purchased, the inventory account ( a current asset) is increased with each purchase. The vendor submits an invoice for payment (the seller's request for payment from the buyer). The invoice contains the seller, the purchaser, the date of purchase / shipment, the credit terms, the total amount due, & the due date. It should be noted that the inventory account is also impacted by shipping costs, returned purchased items, & early payment discounts. The journal entry to purchase inventory is simply a debit to the inventory account & a credit to the accounts payable account for the same amount. If purchased with cash rather than with credit, simply credit cash instead of crediting accounts payable. Purchase discounts involve the customer getting a discount for making an early payment within a given period (determined by the seller). For example, the buyer is legible for a 3% discount if the buyer pays for the goods within 15 days. If the buyer does not pay within 15 days, they are responsible for the full amount (within 30 days). The above example would be denoted 3/15, n/30. EOM stands for end of month. Purchase Returns & allowances are also discussed, as well as transportation & freight costs (FOB destination & shipping point). ------QUICK NAVIGATION------ Video begins with overview of learning objectives Operating Cycle: 3:31 Merchandisers: 6:11 Balance Sheet Diff: 10:18 Income Statement Diff: 10:59 Perpetual Inventory System: 12:59 Bar Codes: 16:19 Periodic Inventory System: 17:35 Purchasing Inventory: 20:03 Journal Entry for Purchase of Inventory: 22:53 Purchase Discounts: 24:46 Payment Within Discount Period: 29:53 Purchase Returns and Allowances: 34:23 Journal Entry for Purchase Returns & Allowances: 37:34 Transportation Costs: 40:22 FOB Shipping Point: 45:20 Purchase Discount - Shipping is Added to Invoice: 46:06 FOB Destination: 49:56 Summary of Purchase Returns & Allowances, Discounts, & Transportation Costs: 52:53 Exercise S5-2 - (Analyzing Purchase Transactions - Perpetual Inventory): 55:50 Midterm Review: 1:04:54
Views: 33660 Rutgers Accounting Web
Purchases.Purchases Return ,Sale  & Sale Return In Busy Accounting Software Day-4
 
18:00
Advance Course Training Course For More Details Log on www.Youtube.com and Call - +91 9210161132 Mail us - [email protected]
A038 Purchase Returned - SQL Accounting Software
 
05:03
This video shows you how to do Purchase Returned In Purchase Module. Email : [email protected] Product Details :www.syntech.com.my Interaction :www.facebook.com/syntaxtechnologies Full Video Listing :www.youtube.com/syntaxtechnologies
Views: 1684 syntaxtechnologies
HOW TO CREATE PURCHASE RETURN OR DEBIT NOTE VOUCHER IN BUSY ACCOUNTING SOFTWARE
 
03:16
HOW TO CREATE PURCHASE RETURN OR DEBIT NOTE VOUCHER IN BUSY ACCOUNTING SOFTWARE
Accounting for Purchase of Inventory | Financial Accounting | CPA Exam FAR | Ch 5 P 2
 
23:34
Merchandising operation, purchase of inventory, FOB shipping, FOB destination, perpetual inventory, periodic, purchase discount, purchased invoice, discount terms, net purchased, freight in, purchase returns, purchase allowances, purchased returns and allowances,
Perpetual Inventory System and How to Journalize Purchase Entries (FA Tutorial #30)
 
10:29
75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP So we've talked about the perpetual inventory for some time now. Well, now its time to learn how to journalize certain transactions in this system like purchases, returns, discounts along with shipping costs (Looking at FOB destination and FOB shipping). Merchandise inventory will be used in this inventory system and will include constant cost of goods sold changes as inventory is sold and returned. Watch the entire tutorial and understand this concept to our inventory chapter! ** Notepirate is privately owned and exclusive to Notepirate.com.** Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites!
Views: 49316 Notepirate
Accounting For Purchase Returns : Basic Accounting Tips and Tricks [Urdu / Hindi]
 
07:01
Accounting For Purchase Returns : Basic Accounting Tips and Tricks [Urdu / Hindi] Sekho Sub Kuch Sekhosubkuch provides basic and advanced level computer, internet, commerce, mobile technology related education for free. For More Interesting updates like Facebook Page And Subscribe My Channel on YouTube. Facebook Page : https://www.facebook.com/sekhosubkuch YouTube Channel : https://www.youtube.com/channel/UCO3WNWvetJ5zVaxz2-cOx9w My Blog : http://sekhosubkuch.blogspot.com/ Don't Forget to Like, Comment, Share and Subscribe to My Channel More Video Topics are Given Below : How to Create a Business Accounts Ledger in Microsoft Excel : Debit Credit Balance [Urdu / Hindi] How to Create Accounts System in Microsoft Excel [Urdu / Hindi] How to Create a Simple Accounting Software in Microsoft Excel [Urdu / Hindi] Accounting for Sales Tax : Output Tax : Basic Accounting Tips and Tricks [Urdu / Hindi] Accounting for Sales Tax on Purchases : Input Tax : Basic Accounting Tips and Tricks [Urdu / Hindi] Accounting for Sales Return : Basic Accounting Tips and Tricks [Urdu / Hindi] Accounting For Purchase Returns : Basic Accounting Tips and Tricks [Urdu / Hindi] TOP 5 Quick Excel Tips and Tricks (You Might Be Don't Know) How to Create INVOICE in Microsoft Excel [Urdu / Hindi] How to Create Check Register in Microsoft Excel [Urdu / Hindi] How to Create Income Statement / Profit and Loss Account in Microsoft Excel [Urdu / Hindi] How to Create Balance Sheet in Microsoft Excel [Urdu / Hindi] Accounting For Sales : Basic Accounting Tips and Tricks [Urdu / Hindi] Accounting For Purchases : Basic Accounting Tips and Tricks [Urdu / Hindi] Fixed Assets : Reducing Balance / Fixed Declining Depreciation Method in Excel [Urdu / Hindi] How to Easily Write / Read Currency in English and Urdu : Basic Tips [Urdu / Hindi] Fixed Assets Straight Line Depreciation Method in Microsoft Excel [Urdu / Hindi] Adjusting Entries Part 4 : Prepaid Expense : Prepayments : Basic Accounting [Urdu / Hindi] Adjusting Entries Part 3 : Deferred Income : Unearned Revenue : Basic Accounting [Urdu / Hindi] Adjusting Entries Part 2 : Accrued Expense : Basic Accounting [Urdu / Hindi] Adjusting Entries Part 1 : Accrued Income : Basic Accounting [Urdu / Hindi] Basic Accounting : Debit and Credit Rules : Accounting Tips [Urdu / Hindi] Magic Math Tricks - How to Calculate Percentage Fast [Urdu / Hindi] How to Calculate Percentage Change (Increase and Decrease) [Urdu / Hindi] What is Percentage and How to Calculate Percentages with Examples [Urdu / Hindi] Create Main Menu (Dashboard) of Supplier & Customer (Ledger Part 3) [Urdu / Hindi] Customer / Buyer Ledger in Microsoft Excel (Ledger Part 2) [Urdu / Hindi] Supplier / Vendor Ledger in Microsoft Excel (Ledger Part 1) [Urdu / Hindi] How to use PV (Present Value Function) in Microsoft Excel [Urdu / Hindi] How to use FV (Future Value Function Part2) in Microsoft Excel [Urdu / Hindi] How to use FV (Future Value Function Part1) in Microsoft Excel [Urdu / Hindi] How to Use PMT Function in Microsoft Excel (Excel Tips) [Urdu / Hindi] How to Create Check Register in Microsoft Excel [Urdu / Hindi] How to Create INVOICE in Microsoft Excel [Urdu / Hindi] Create INVENTORY SYSTEM in Microsoft Excel (Using Vlookup and Sumif) [Urdu / Hindi] How to Create SO / Sales Order in Microsoft Excel [Urdu / Hindi] How to Create PO / Purchase Order in Microsoft Excel [Urdu / Hindi] How to Create Balance Sheet in Microsoft Excel [Urdu / Hindi] [Advance Excel] How to Create Income Statement / Profit and Loss Account in Microsoft Excel [Urdu / Hindi] Word Tutorial : How to Create a Letterhead in Microsoft Word [Urdu / Hindi] [Word Training] Word Tutorial : How to Create Business Card in Microsoft Word [Urdu / Hindi] How to Create Payroll System / Salary Sheet in Microsoft Excel [Urdu / Hindi] How to Create Invoice in Excel [Urdu / Hindi] How to Make a Home Budget in Excel [Urdu / Hindi] How to Calculate Running Total [Urdu / Hindi]
Views: 245 sekhosubkuch
Purchase Return- OpenMiracle - The Free open source accounting software
 
02:39
OpenMiracle is an open source accounting software, includes all the traditional accounting package features and also contains some additional features. OpenMiracle is an open source accounting software, ie its source code is available free of cost for life time. It is an attempt to make software accounting package available to the common man. It includes all the traditional accounting package features and also contains some additional features. The software is easy to use and helps you to manage your business accounts efficiently. It can replace the latest any accouting package. It is 100% open source which helps developers to reach their experience in creation of an accounting package.Its user friendly consoles and functions helps to reduce the user's work load.
Views: 169 OpenMiracle
ACCOUNTING EQUATION 4 - CREDIT PURCHASES AND RETURNS
 
04:17
ACCOUNTING EQUATION 4 - CREDIT PURCHASES AND RETURNS
Views: 301 accountants2be
Periodic Inventory (Purchases For Merchandising Operations) Accounting Detailed
 
05:53
Merchandising accounting,how the purchases account (for merchandising operations) is used in the periodic inventory system (periodic inventory method), purchases account is included in net income on the income statement, example details the accounting entries for purchasing transactions, the purchases account and the (contra accounts) purchase discounts and purchase returns and allowances, the example details the periodic inventory system for end of period (year) adjustments to the purchases account, (1) end of period purchase discounts and purchase returns and allowances are closed to purchases account, (2) end of period the purchases account(less returns & discounts) is closed to COGS (cost of goods sold) for the amount of purchases sold, (3) the purchases account is adjusted (purchases net amount - purchases sold = purchases remaining after sales), the purchases remaning gets closed to the inventory account (asset) on the balance sheet which closes out the purchases account such that it starts with a zero balance for the next period (year), in summary purchases account gets closed at end of period, (1) amount sold closed to COGS and (2) amount remaining closed to inventory account on balance sheet, detailed accounting showing transactions on a balance sheet template with (T Accounts) by Allen Mursau
Views: 1405 Allen Mursau
Recording Sales Transactions, Quick Ratio | Financial Accounting | CPA Exam FAR | Chp 5 p 2
 
55:52
Sales revenues, cost of goods sold, gross profit, CPA exam, sales returns and allowance, sales discount, Merchandising operation, purchase of inventory, FOB shipping, FOB destination, perpetual inventory, periodic, purchase discount, purchased invoice, discount terms, net purchased, freight in, purchase returns, purchase allowances, purchased returns and allowances, FIFO, LIFO
Accountancy Class 11 | Basic Accounting Terms | Chapter 2 | Purchases & Purchase Return
 
17:27
Accountancy Class 11 | Basic Accounting Terms | Chapter 2 | Purchases & Purchase Return Link to Complete Chapter Classes #1. accounts class11 | Chapter 2 | Business Transactions & Events | https://www.youtube.com/watch?v=6J9TXsZdiAM&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp #2. accountancy class11th | Chapter 2 | Account | https://www.youtube.com/watch?v=SXBh-zhTH6U&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp&index=2 #3. accountancy class 11th | Chapter 2 | Capital & Drawings | https://www.youtube.com/watch?v=Q5XCCdY75JY&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp&index=3 #4. accountancy class 11 | Chapter 2 | Liability | https://www.youtube.com/watch?v=AWWrJBscTCw&index=4&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp #5. accounts class11 | Chapter 2 | Assets | https://www.youtube.com/watch?v=jDFnq7lFdto&index=5&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp #6. accounts class11th | Chapter 2 | Capital & Revenue Expenditure | https://www.youtube.com/watch?v=Uk05KiFSpSI&index=6&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp #7. accounts class 11th | Chapter 2 | Capital & Revenue Receipts | https://www.youtube.com/watch?v=OsJQCEqC1Ng&index=7&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp #8. accountancy class 11 | Chapter 2 | Expense & Income | https://www.youtube.com/watch?v=us4tDKtOF7Q&index=8&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp #9. accounts class11 | Chapter 2 | Profit | https://www.youtube.com/watch?v=AwwK_T-iC-g&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp&index=9 #10. accountancy class11th | Chapter 2 | Gain & Loss | https://www.youtube.com/watch?v=wniplsvZIVI&index=10&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp #11. accountancy class 11th | Chapter 2 | Purchases & Purchase Return | https://www.youtube.com/watch?v=UEbNg1zCvsc&index=11&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp #12. accountancy class 11 | Chapter 2 | Sales & Sales Return | https://www.youtube.com/watch?v=YxvlJ-vYwj4&index=12&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp #13. accountancy class11 | Chapter 2 | Stock(opening & Closing) | https://www.youtube.com/watch?v=T2e3kAN73dY&index=13&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp #14. accounts class11th | Chapter 2 | Inventory(Raw-material, WIP, Finished Goods) | https://www.youtube.com/watch?v=YQaswAJXm1Y&index=14&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp #15. accounts class 11th | Chapter 2 | Trade Receivable(Debtors & Bill Receivable) | https://www.youtube.com/watch?v=IGZLSBoaweE&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp&index=15 #16. accountancy class 11 | Chapter 2 | Trade Payable (Creditors & Bill Payable) | https://www.youtube.com/watch?v=YxJAA2bG84E&index=16&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp #17. accounts class11 | Chapter 2 | Goods & Cost | https://www.youtube.com/watch?v=BTdq4vpmNZE&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp&index=17 #18. accountancy class11th | Chapter 2 | Voucher | https://www.youtube.com/watch?v=2AiGltTi37o&index=18&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp #19. accounts class 11th | Chapter 2 | Types of Voucher & Debit Voucher | https://www.youtube.com/watch?v=JAPrxtuUv_0&index=19&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp #20. accountancy class 11 | Chapter 2 | Credit Voucher & Non Cash or Transfer Voucher | https://www.youtube.com/watch?v=90HwZ2CN4g8&index=20&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp #21. accountancy class11 | Chapter 2 | Trade discount & Cash Discount | https://www.youtube.com/watch?v=KOo5DKKL7BA&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp&index=21 #22. accountancy class11th | Chapter 2 | GST,ENTRY, BAD DEBT,INSOLVENT & SOLVENT | https://www.youtube.com/watch?v=Fqj2CMzwC7s&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp&index=22 #23. accounts class 11th | Chapter 2 | STORES, REVENUE & REVENUE FROM OPERATIONS | https://www.youtube.com/watch?v=qlL32YZHEKU&index=23&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp #24. accounts class 11 | Chapter 2 | ENTITY,TURNOVER,LIVESTOCK & INVESTMENTS | https://www.youtube.com/watch?v=rMD_n_tzP5M&list=PLnYJPjDtVr6hkbn8tMkYsN6Jompu5udLp&index=24 #11class #Accountancy #Class11 #Accounts# 11classAccount #11classAccountancy #class11Accounts #accountancyclasses #cptclassesaccounts
Views: 202 Commerce Mantras
Purchase/Sale Return In Busy Accounting Software Short Video Part-8
 
06:46
Advance Course Training Course For More Details Log on www.Youtube.com and Call - +91 9210161132 Mail us - [email protected]
Sage Business Cloud Accounting Start (UK) - VAT Returns
 
03:36
If you’re registered for VAT, you need to submit a return to HMRC once a month or quarterly. See how easy it is to create your return in Accounting Start.
Introduction to stock - purchases and purchases returns
 
03:20
Do you know what stock is and how to record it? LEARN MORE https://www.youtube.com/theaccountingstudent?sub_confirmation=1 ENJOYED WATCHING? MORE CONTENT LIKE THIS BELOW PLAYLISTS How to record_____________in the Accounts | https://www.youtube.com/playlist?list=PL3cdk_SU0v30ks6Xcxrf-FWxBlWKLkD82 Introduction to Accounting and Bookkeeping | https://www.youtube.com/playlist?list=PL3cdk_SU0v31dP04X3WF6feHpZgS1rKPA The Accounting Concepts | https://www.youtube.com/playlist?list=PL3cdk_SU0v30CeJsBoQpDWUvyzZrq-Vcu The Accounting Equation | https://www.youtube.com/playlist?list=PL3cdk_SU0v322HgQ6FqYnUC-ilGgpDYpd VIDEOS Introduction to stock - sales and sales returns | https://www.youtube.com/watch?v=7U8NgiMbJ9k How to record a Cash Purchase | https://www.youtube.com/watch?v=LVXSppI2SkI How to record a Credit Purchase | https://www.youtube.com/watch?v=B8HKT9JD7uI What is the Purchases Journal | https://www.youtube.com/watch?v=77lQ-nyG07w What is the Purchases Returns Journal | https://www.youtube.com/watch?v=zCc0HWeTrYo What is an Asset | https://www.youtube.com/watch?v=5Kzpkv2bjoU How to open a T account | https://www.youtube.com/watch?v=NvzdekwFutU How to close a T account | https://www.youtube.com/watch?v=bIRqGq2ZAZA How to record a Revenue | https://www.youtube.com/watch?v=H451Wm_os2Q CONNECT WITH US ON SOCIAL MEDIA Like us on Facebook | https://www.facebook.com/theaccountingstudent Tweet us on Twitter | https://twitter.com/theaccostudent Follow us on Google Plus | https://plus.google.com/u/0/105440586533082327728 CREDIT FOR BACKGROUND MUSIC Ben Fry Drums | https://www.youtube.com/channel/UCQfjnpDLuAzr0cnNgKTnhXw
Inventory Errors | Inventory Valuation | Intermediate Accounting | CPA Exam FAR | Chp 8 p 2
 
30:58
inventory errors, inventory turnover, LCM, lower of cost or market, FIFO, LIFO, Weighted average, specific identification, First in first out, Last in first out, Merchandising operation, purchase of inventory, FOB shipping, FOB destination, perpetual inventory, periodic, purchase discount, purchased invoice, discount terms, net purchased, freight in, purchase returns, purchase allowances, purchased returns and allowances, Consistency, Disclosure, Materiality, Accounting conservatism
Tally New Release Update 6.4.4/GSTR3B Return/Fixed Asset Purchase Under Accounting Invoice S.NO-146
 
05:04
Update New Tally Release 6.4.4 Change in Utility of gstr3b Fixed asset and capital goods Purchased Under Accounting Invoice.
Views: 2356 TALLY ONLINE CLASS
GST-TALLY ERP.9 (FULL ACCOUNTING AS A COMPOSITION DEALER & MAINTAIN GSTR-4) BY ONLINE SEVA
 
21:51
Learn by ONLINE SEVA composition dealer accounting in Tally ERP 9. Tally Composition Scheme Entries under GST. Tally ERP 9 release 6.4. How to file quarterly return GSTR 4 for composition dealer? How to post reverse charge entries for composition dealer, entries for rcm on composition dealer or reverse charge applicable under composition scheme for transportation charges discuss in this video. Subscribe my Channel Online Seva http://www.youtube.com/c/OnlineSeva Visit My Website https://www.onlinegstservice.com/ Visit my Facebook page https://www.facebook.com/gstservive/ Fore more videos Related to GST SUBSCRIBE TO OUR CHANNEL FOR MORE GST VIDEOS PART-1 |GST-| New Changes In GSTR-3B 21 FEB 2018 | Most Information Related To File GSTR-3B https://youtu.be/kuvQJ8oPMUY GST-TALLY |LIVE DEMO| GSTR-1 QUARTERLY RETURN FILING THROUGH TALLY ERP.9 https://youtu.be/LpJWU-zogCI GST-TALLY |LIVE DEMO| GSTR-1 QUARTERLY RETURN FILING THROUGH TALLY ERP.9 https://www.youtube.com/watch?v=LpJWU... GSTR-1 | Live Demo | How to Filing GSTR-1 Quarterly Nil Return | https://www.youtube.com/watch?v=9tuOT... Ineligible For Input Tax Credit Under GST | NO INPUT TAX CREDIT THIS GOODS & SERVICES https://www.youtube.com/watch?v=RO0qY... GST-TDS on Audit Fee with GST RCM Entries in Tally ERP 9 https://www.youtube.com/watch?v=pwdSm... GST-Tally(Release 6.2)Reverse Charge Adjustment Accounting after Suspension https://www.youtube.com/watch?v=R5Gbp... GSTR DUE DATE https://pbs.twimg.com/media/DOzhcJaUM... More Video GST : GSTR 3B(Unregistered Person से रु 5000 के Purchase (खरीद) को GSTR-3B में कहा दिखाना है) https://www.youtube.com/watch?v=u1OY9... GSTR 3B - WHERE TO FILL URD PURCHASES ABOVE Rs 5000 IN GSTR-3B. For More Video GSTR-1( Debit/Credit Note- Register 9B & Unregister 9B ) in Tally ERP 9 Release 6.2. https://www.youtube.com/watch?v=XnZvw... Part-2 GSTR-1( Debit/Credit Note- Register 9B & Unregister 9B ) in Tally ERP 9 Release 6.2. https://www.youtube.com/watch?v=CaqJh... For More Videos GSTR 4 - LIVE DEMO-HOW TO FILE GSTR 4 FOR COMPOSITION PERSON, QUARTERLY RETURN. https://www.youtube.com/watch?v=xs-ax... Changes of GST Registration | Steps to make amendments in GST Registration | https://www.youtube.com/watch?v=Swz0L... Tally-GST Part-2( Advance Receipt & Refund of Advance Receipt Adjustment Entries ) https://www.youtube.com/watch?v=XeZcF... Filing of GST Return 1 from Tally ERP. 9 - LIVE Demo https://www.youtube.com/watch?v=SzHm5... इस विडियो में आप जानेगे अलग अलग दर के GST Tax की एक साथ एंट्री करना In this video you will know about Multiple GST Tax || How to show HSN Code In Printout https://youtu.be/j0wO5WKhcGw how to upload Excel file to GST site, How to file GSTR-1 online, GST return-1 filing online, GST filing tutorial hindi, B2B filing, gstr-1 online kaise file karte hai, gstr-1 filing live online GST (Composition,Nil Rate , Non-Gst Item , Exmpt Goods) Accounting Entries in Tally (Hindi) https://www.youtube.com/watch?v=CrUSM... Part -2 GST- Reverse Charge On Sale with Freight/transport | GST Reverse Charge Mechanism -RCM https://www.youtube.com/watch?v=04l1D... GST Tally | GST Reverse Charge On Sale with Freight/transport | GST Reverse Charge Mechanism -RCM https://www.youtube.com/watch?v=pTDiX... GST in Tally | GST Calculated on packing Charge ( Sale/Purchase ) in Tally https://www.youtube.com/watch?v=Vz222... GSTR-2 (Tax Liability under reverse Charge on Advance) in Hindi https://www.youtube.com/watch?v=7Xg2d...
Views: 4847 Online Seva
Purchase Return Reports-OpenMiracle Free open source accounting software
 
00:43
OpenMiracle is an open source accounting software, includes all the traditional accounting package features and also contains some additional features.OpenMiracle is an open source accounting software, ie its source code is available free of cost for life time. It is an attempt to make software accounting package available to the common man. It includes all the traditional accounting package features and also contains some additional features. The software is easy to use and helps you to manage your business accounts efficiently.
Views: 98 OpenMiracle