Financial books of accounts are a necessity for the day to day running of financial institutions. This can be classified as either books of original entry or general ledgers. Books of first entry are cash books, sales and purchase return books, sales book and journal proper. All financial entities have general journals with the particulars column showing the different types of transactions made.
They are then classified as either credits or debits. The main importance of proper book-keeping habits is to have easy referral points. It’s with these books that auditors will evaluate your financial situation.
GET RICH TIPS
Developing good saving techniques is one way of getting rich. Its closely linked to substantial investment in that saving acts as a source of funds for a future investment. Instead of one spending all their salary on luxurious adventures they can’t sweat to uphold, it’s much wiser to save a part of the cash for future needs or projects. Creating a savings account with your bank will assist you to not only save more but also allow your money earn interest as per the bank’s terms. One may also opt for a certificate of deposit where limited access to your cash is traded with increased interest rates. This boosts your financial discipline and sets you on the right path to become rich.
Mega-millions jackpot in the US is among the biggest in terms of payments. The jackpot’s initial value is always pegged at $40,000,000. Its value rises by approximately over 12 percent of the starting cash every time a roll-out of the jackpot is done. Winning involves matching all 5 numbers of the winning ticket. In January 2016, the highest ever jackpot amount 1.586 billion US dollars was won by 3 tickets in Tennessee, California, and Florida with each individual receiving about 327.8M dollars after taxes.