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 ...

The federal government does not levy sales taxes on items, but most state governments charge varying rates of sales taxes on a range of taxable products. If your business is based in any of these ...

Invoicing is crucial for small business cash flow. Learn how to create an effective professional invoice that increases the likelihood of timely payments.

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 ...