Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.

Financial accounting is a multi-step process for companies following double-entry methods. The first and most important step begins with a journal entry: the recording of financial information related ...

If you allow customers to pay via invoice at a later date, this is an accrual accounting practice. There are specific accounts used to record these transactions as the process goes from opening the ...

Bad debt is an unfortunate reality of running a business. A bad debt is money owed to your company that you decide is not collectable. The two most common methods you can use to write off bad debt are ...