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| This page contains information related to Bookkeeping and Accounting terms and processes. It contains links to other sites that provide information not written by FOBS, but that we have found useful and informative. Check them out and learn about the history of double entry bookkeeping and why it is the basis for past and present day recording of transactions. Learn also, about the use of this in computer technology, and why it is the convention for COBOL (COmmon Business-Oriented Language ) programming, the language used by Microsoft Windows and many other business oriented software programs. Makes sense, as they are all numeric-heavy programs and date driven. Anyone who remembers what controversies developed around the use of two digit years and Microsoft's subsequent issue of their ME operating system, will find these articles very interesting. Enjoy! Who has never heard of Wikipedia and its many informative sites, created and edited by people like you and me? This article has information related to the concept of double entry bookkeeping and includes examples and abbreviations commonly used in bookkeeping. Check out this article to get an overview of what debits and credits are all about, their Latin roots, and how the short forms dr and cr came to be. For those confused by the terminology banks use to describe their debit and credit cards, this article seeks to clarify and also explains why debits and credits have no negative or positive values. Most informative.
If you simply do not have the time, nor knowledge to maintain a double entry system, you could consider single entry bookkeeping. This article explains the rationale behind this method and also a list of reasons it is not recommended. In these times of relatively low cost software solutions, it is not likely many small businesses would choose this route, but it does exist for those who want it. Check it out here Page modified 2011-02-01 10:49 | |
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