Under the accrual basis of accounting, you must record revenues and expenses in the accounting period in which they were earned or incurred, regardless of when payment occurs. An adjusting entry is a ...

Understand adjusting entries for accounting purposes, how they are made and what they impact. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

Accounting for your small business must be very clear. In the event of a audit, an auditor needs to be able to follow transactions clearly to understand them. This is ...