Financial accounting is a multi-step process for companies following double-entry methods. The first and most important step begins with a journal entry: the recording of financial information related ...

Journal entries are used to change accounting information in financial systems. Following the double-entry system used in modern accounting, these entries always affect at least two accounts -- one ...

If your business extends credit to its customers, charging and collecting interest is well within your right. Most businesses with account receivables don't charge interest unless payment is really ...

Tracking your company’s spending is essential for maintaining accurate financial records. One financial accounting method businesses use is the payroll journal entry. Payroll journal entries record ...

Small-business cloud accounting solution provider FreshBooks has released Journal Entries for QuickBooks and CSV, to make it easier for users to collaborate with their accountants. The feature lets ...

A “Download” window will open in Excel letting you know that your document is in the process of being created. Click the “Close” button once the Journal Entry template has finished downloading into ...

The journal entry to record manufacturing overhead applied to a job involves two accounts: Work-in-Process Inventory: An ...

Learn to report contingent liabilities under GAAP. Understand probability categories—probable, possible, remote—and how to ...

Auditors can use Benford’s Law to identify general ledger irregularities — both those that can indicate fraud and those that do not. In this article, I introduce audit data analytics techniques that ...