Doyle Bookkeeping

Category: Bookkeeping

The Importance of Categorizing

The Importance of Categorizing Bookkeeping Rules
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Bookkeepers categorize all transactions – the reason for this is that it assists in identifying tax concessions which may be applicable to your business, making auditing easier. Transactions are categorized under the following five types of accounts: Assets Liabilities Revenue Expenses Equity Ensure (where possible) all payments are made via Credit or Debit card as […]