Month: February 2022

EcomBalance is a monthly bookkeeping service for eCommerce companies. EcomBalance handles your bookkeeping and sends you a Profit and Loss Statement, Balance Sheet, and Cash Flow Statement by the 15th of each month. EcomBalance also has a sister company, AccountsBalance, that caters to agencies, software companies, coaches, and other online companies. Quickbooks Online is more […]

The credit memo issued due to returned or damaged goods might require adjustments in the seller’s inventory levels to account for those items. This adjustment impacts the valuation and reporting of inventory on the seller’s balance sheet. To record a credit memo journal entry, debit your sales returns, and allowances account and credit your accounts […]