When recording transactions, you must ensure that both sides balance; this means that for every debit entry, there must be an equal credit entry. For example, when you receive cash from a customer for goods sold on credit, you will record a debit entry in the cash account and a credit entry in accou...

Due to the nature of construction work, which involves multiple projects with varying costs and timelines, bookkeeping in this sector is complex. It requires a detailed understanding of contract specifics, including labor, materials, subcontractor expenses, and overheads. Effective bookkeeping helps...