The direct write-off of accounts receivable is primarily used by small companies for financial reporting, but is required by all companies in determining their tax obligation to the Internal Revenue ...

Bad debt is an unfortunate reality of running a business. A bad debt is money owed to your company that you decide is not collectable. The two most common methods you can use to write off bad debt are ...

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 ...

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 ...