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 the difference between prepaid insurance vs insurance expense. This guide simplifies accounting for prepaid insurance, showing you the initial journal entry and the crucial prepaid insurance adjusting entry required by accrual accounting.
Bookkeeping
Unearned revenue is a crucial liability. Learn the unearned revenue definition and understand why is unearned revenue a liability. This guide provides essential unearned revenue journal entries and clear adjusting entries examples, showing you exactly how to adjust unearned revenue for accurate f...
Bookkeeping
Adjusting entries are essential for accurate financial reporting. Learn the purpose of adjusting entries in accounting, including handling accruals and deferrals, and review key examples of adjusting entries to ensure your financial statements comply with GAAP.
Bookkeeping
Unlock the secrets of financial record-keeping. This guide covers general ledger accounting for beginners, detailing the essential general ledger account types and providing practical steps on how to prepare a general ledger using double-entry accounting and understanding debits and credits.
Bookkeeping
Demystify accrued expense journal entry procedures. This guide covers accrual accounting basics, provides clear examples of accrued expenses (like accrued interest journal entry), and shows you the exact journal entries for accruals needed to keep your financial statements accurate.
Bookkeeping
Learn the essential adjusting entries for uncollectible accounts. Understand how the matching principle in accounting guides the allowance method, and see the difference between the allowance method vs direct write-off method for accurate accounting for bad debts.
Bookkeeping
Just completed a business transaction? Dive into the world of accounting with our guide to understanding the general journal. Learn how this financial diary records transactions and forms the bedrock of your business’s financial story.
