Basics
Double Entry Bookkeeping Advantages
Most medium and large businesses use a double entry system which tracks their income and expense AND their…
August 16, 2021 · Boomi NathanAuthor: Boomi Nathan
J. BoomiNathan is a writer at SenseCentral who specializes in making tech easy to understand. He covers mobile apps, software, troubleshooting, and step-by-step tutorials designed for real people—not just experts. His articles blend clear explanations with practical tips so readers can solve problems faster and make smarter digital choices. He enjoys breaking down complicated tools into simple, usable steps.
Basics
Single Entry vs Double Entry Bookkeeping:
There are two basic ways to record your financial transactions: Single entry bookkeeping can used by small businesses where…
August 16, 2021 · Boomi NathanBasics
Accounting Principles
A number of basic accounting principles have been developed that are the basic building blocks that form the…
August 16, 2021 · Boomi NathanBasics
Improving Profits
A company’s accounting records and financial statements are based on accounting principles, concepts, detailed rules, etc. For example,…
August 16, 2021 · Boomi NathanBasics
Debits and Credits Explained in Detail
If the words “debits” and “credits” sound like a foreign language to you, you are more perceptive than…
August 16, 2021 · Boomi NathanBasics
Half-Life
In the investing world, a half-life is the halfway point of mortgage repayment. How It Works (Example): Let’s say John…
August 16, 2021 · Boomi NathanBasics
Credit Rating
In personal finance, the term credit rating commonly refers to a score issued by the Fair Isaac Corporation (a “FICO…
August 16, 2021 · Boomi NathanBasics
Credit Quality
Credit quality is a measure of an individual’s or company’s creditworthiness, which is ability to repay debt. How…
August 16, 2021 · Boomi NathanBasics
Bullet Loan
A bullet loan is a loan that does not amortize over time and must be repaid with a…
August 16, 2021 · Boomi NathanBasics
Average Balance
Average balance is either the simple or the weighted average balance of a financial account during some period…
August 16, 2021 · Boomi Nathan