The closing procedure in accounting is carried at the end of each and every accounting period. In this procedure all the journal entries are flushed that were being used to maintain temporary accounts and all the authentic information such as balance is shifted to
The payroll is associated with employ and the staff and this involve a complete flow of assigning error free payroll to the employees. The payroll procedure is a complex procedure and include following steps:- Updating Master file of employee Every employee has its
The fixed asset recognition procedure is used in accounting to recognize and categorize fixed assets at an early stage. It is important to recognize fixed assets in early period of accounting as with the passage of time and procedures it become a very complex
It is a procedure of granting credit to the customers on their request. This is a complete procedure that ensures one thing that a firm’s credit is not granted to the customers or other business entities that are unable to pay this credit later.