Accountants record closing entries at the end of every accounting period. Closing entries transfer the revenues and expenses the company incurred during the period to the equity section of the balance ...

At times companies have deductions from employee paychecks. These deductions include things such as FICA, Federal Withholdings, Wage Garnishment and 401k's. In order to keep a proper set of books, the ...

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 ...

Discover how accounts payable function as short-term liabilities, not expenses, and learn how they impact a company's ...

What Is the Difference between Accounts Receivable and Accounts Payable? Your email has been sent Accounts payable and receivable are required to ensure your cash flow and spending are appropriately ...