The payroll liabilities account in your general ledger is a holding place for payments due in the near future but not yet issued. One example of these expenses is your payroll taxes. If you file ...

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 ...

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 ...