An important part of the monthly closing cycle for your small business's general ledger is reviewing the trial balance and posting adjusting entries to recognize accruals, prepaid expenses and correct ...

When your business uses accrual accounting, expenses are recognized when a product or service is used instead of when it is paid for.. For example, your business may hire a cleaning crew quarterly to ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Chip Stapleton is a Series 7 and Series 66 license holder, CFA Level 1 exam holder, and ...