Expense Account Journal Entry
An expense account journal entry is used to record any expenses incurred by a business, such as rent, utilities, salaries, […]
Expenses Entries
Receivable Entries
Factoring Accounts Receivable Journal Entries
Factoring accounts receivable refers to selling its accounts receivable (invoices) to a third party (called a factor) at a discount
Bookkeeping
Double Entry Bookkeeping in Accounting
Double-entry bookkeeping is a fundamental accounting system and ensures accuracy in financial records by recording every financial transaction in two
Accounting
Journal Entry for Collecting Accounts Receivable
When a business collects accounts receivable, it means that the customer has paid the amount owed for goods or services
Receivable Entries
Collection of Accounts Receivable Journal Entry
When a business collects accounts receivable, it means the company has received payment from a customer who previously owed it
Accounting
Freshbooks Double Entry Accounting
FreshBooks is known for its user-friendly accounting software, but it also supports double-entry accounting, an essential feature for maintaining accurate
Accounting
HOA Reserve Accounting Journal Entry
Homeowners’ Associations (HOAs) often set aside funds in reserve account to cover future large expenses, such major repairs, replacement of
Financial Journal Entries
Finance Lease Journal Entries
Finance lease (also known as a capital lease) is lease in which the lessee effectively acquires ownership of leased asset,
Income Entries
Retained Earnings Accounting Entry
Retained earnings represent the cumulative net income of a company that has been retained (not distributed as dividends) and reinvested
Payable Entries
Accounts Payable and Receivable Journal Entries
Accounts Payable Journal Entries Accounts payable represent amounts a company owes to its suppliers or creditors for goods or services
Accounting
Xero Journal Entry
Step-by-Step Guide to Creating a Journal Entry in Xero Step 1: Log in to Your Xero Account Step 2: Go
Accounting
Grant Accounting Journal Entries
When accounting for government grants, different approaches are taken depending on the nature of the grant. Below are examples of