Accrual accounting requires a business to record revenues and expenses in the period in which they are earned or incurred, regardless of when payment occurs. When payment occurs on a date that is ...

An important part of the monthly closing cycle for your small business's general ledger is reviewing the trial balance and posting adjusting entries to recognize accruals, prepaid expenses and correct ...

The accounting cycle tracks a transaction until it’s added to your company’s financial statement. Follow this eight-step ...