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 ...

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 ...

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 ...

A “Download” window will open in Excel letting you know that your document is in the process of being created. Click the “Close” button once the Journal Entry template has finished downloading into ...

The Public Company Accounting Oversight Board released a staff publication highlighting problems it's seeing with audits of journal entries. Processing Content The publication, Audit Focus: Journal ...

Auditors know that journal-entry testing is one of many procedures they can use in addressing client data completeness and, hence, audit risk (see AU-C Section 240, Consideration of Fraud in a ...