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 ...

Accrued revenue occurs when a company has earned revenue but hasn't billed a client for payment. To record accrued revenue, the company accountant debits accrued billings and credits revenue for the ...

Opinions expressed by Entrepreneur contributors are their own. Should small businesses use cash or accrual accounting? This question gets asked almost as much as “paper or plastic?” and “debit or ...

In finance, businesses navigate a web of financial terms and metrics to ensure smooth operations and accurate financial reporting. One such crucial term that often comes into play is “Accrued Expenses ...

Accrued interest receivable refers to the interest that has been earned on an investment or loan but has not yet been received in cash. It arises in situations where interest payments are due at ...

An accrual rate is the interest percentage added to the principal of a financial product between payments. Learn how it applies to bonds, mortgages, and vacation time.

There are many industries where companies provide goods or services but aren’t immediately paid for them. From an accrual basis accounting standpoint, these represent accrued revenue for the company.