For example, taking out a bank loan, receiving interest, selling assets for cash, and so on. Using a Purchases Journal can help businesses keep track of all their purchases, ensure accurate financial reporting, and improve cash flow management. It also provides a detailed record...

Running a business means dealing with numbers every single day—whether it’s managing expenses, tracking invoices, or forecasting future cash flow. Doing this manually is not only time-consuming but also risky, accounting for startups as even small errors can lead to big financial consequences. What’s...

In this case, cell A2 represents the monthly revenue amount, and B2 represents the commission percentage. Multiply them to get the commission earned, showing up in cell C2. For this formula, the monthly revenue ($5,000) gets multiplied by the commission rate (5%) to get...