Small business users of QuickBooks may rarely, if ever, need to make a journal entry in their books. A journal entry splits a transaction into two parts, recording a debit for one account and an equal ...

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 ...

Learn how double-entry accounting records transactions twice, ensuring balance and accuracy by showing both a credit and a ...

Journals are created following the business rules and Chart of Accounts architecture for valid values to record and order financial information for management and reporting. Journals should contain ...

When you take cash out of your business and put it into a restricted fund, meaning it's set aside for a specific purpose, the transaction must be recorded in accordance with generally accepted ...

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 ...

The top-side journal entry is most susceptible to fraud by management override. It’s possible to make adjustments in subledgers, but this requires collusion with other organizational departments, ...