The mechanical "how-to" of recording transactions. Stop guessing which account to debit or credit and keep your books clean for tax time.
Bookkeeping
Understand what is prepaid rent in accounting and why is prepaid rent an asset. Learn to record prepaid rent journal entries and the crucial adjusting entry for prepaid rent, ensuring compliance with accounting for prepaid expenses GAAP.
Bookkeeping
Understand prepaid rent classification and why it is a current asset. This guide details the correct accounting for prepaid rent, including essential prepaid rent journal entries and monthly adjusting entries for prepaid expenses.
Bookkeeping
Understand what are prepaid expenses in accounting and why they appear as current assets on the balance sheet. Learn how to record journal entries for prepaid expenses and apply prepaid expenses adjusting entries using the matching principle.
Bookkeeping
Unlock financial clarity by mastering the debit and credit accounting rules. This guide breaks down the three golden rules of accounting and essential accounting concepts, providing the double entry bookkeeping basics you need to keep your business books perfectly balanced.
Bookkeeping
Learn how to create accurate year-end adjusting entries using accrual accounting journal entries. We provide clear examples of adjusting journal entries for accruals and deferrals, ensuring the correct impact of adjusting entries on financial statements, including deferred revenue accounting.
Bookkeeping
Learn bad debt accounting by mastering adjusting entries for bad debt expense. We detail the difference between direct write off and allowance method, showing the required bad debt expense journal entries and how to manage the allowance for doubtful accounts.
Bookkeeping
Learn how to record the bank service charges journal entry correctly. Understand the debit and credit rules and see clear accounting journal examples. This is a crucial step for accurate bank reconciliation and financial reporting, ensuring you properly account for every bank service charge expense.
Bookkeeping
Learn the importance of bank reconciliation and how to resolve common bank reconciliation errors. This step-by-step guide provides clear bank reconciliation journal entry examples for fees, interest, and NSF checks, ensuring your financial records are accurate.
Bookkeeping
Mastering accounting for prepaid insurance is essential. Learn how to record prepaid insurance as a prepaid expense asset, perform the initial journal entry, and execute necessary prepaid insurance adjusting entries to accurately reflect the expense on your balance sheet.
Bookkeeping
Understand accrual accounting basics and how to record accrued salaries. This guide details the accrued salary journal entry process, providing clear adjusting entries for accrued salaries and practical accrued salaries examples. Learn the wages payable journal entry today.
Bookkeeping
The general ledger is the backbone of general ledger accounting. Discover the types of general ledger accounts, including the nominal ledger and private ledger. Learn the essential general ledger format and master double-entry bookkeeping to accurately record transactions.
Bookkeeping
Accrued revenue entries are essential for accurate financial reporting under accrual accounting basics. Learn the proper journal entry for accrued revenue, understand revenue recognition principles, and discover how to record revenue earned but not received with practical examples.
