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 your small business used a mortgage for a home purchase, a journal entry affects the property, mortgage payable and cash accounts. If you paid all cash for a home, a journal entry affects the ...

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 ...

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 ...

Businesses can choose between two accounting methods: cash and accrual. While sole proprietorships or small mom-and-pop businesses may choose the easier cash accounting method, larger companies use ...

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 ...