PiggyZen Accounting

  Depending on the country you select when creating your PiggyZen account, PiggyZen might automatically create sales tax for you. If not, you can follow the steps below to add the sales tax of your country and/or state. To add or edit a sales tax, log into your PiggyZen account. Click on 'Settings' and then under 'Settings of your business', click on 'Tax Settings'. You can edit a tax or add a sales tax. Enter the sales tax name. Enter the tax abbreviation. This will be used for example when you import a file as the import file will use the tax abbreviation to specify the sales tax for the transaction. Enter the tax percentage. For example if it is 15%, then enter the number 15. The tax number is optional. You can specify if the sales tax is recoverable. That means, any purchases you make where this sales tax is added, the sales tax amount will be deducted from the amount you collected for this sales tax. The sales tax payable account where all the collected and

  What is the accounting equation? - or a better question - Why should you care? Accounting software like  PiggyZen  takes care of the accounting aspect of your business for you. It is designed to be easy to use and will create journal entries for you in the background. Everything will balance and you can focus on running your business. That is all true - but as a business owner, understanding the basics of accounting can help you grow and manage your business. We have searched the Internet for you to look for the simplest and best explanation of the accounting equation. 

One of the first things you need to do when you start using your accounting system is to add your bank accounts. It is important to select the correct account during a transaction so that the funds can be allocated to the correct accounts. To add a bank account to your accounting system, do the following: Log into PiggyZen Select 'Accounting and Finances' from the menu. Select 'Manage Chart Of Accounts' under 'Chart of Accounts'. Click on 'Add Bank Account'. Enter the account name. You can also enter the account number under 'Description' (optional). Click on 'Add'.