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 ...

In accounting, every financial transaction is recorded by two entries on the company's books. These two transactions are called a "debit" and a "credit," and together, they form the foundation of ...

Employers are responsible for paying payroll taxes to the IRS on their employees' income. Most companies pay estimated taxes on a quarterly basis, keeping the money in their accounts in between. The ...

A debit card is a card connected to your checking account, using the funds you have to make purchases. A credit card is connected to a line of credit, carrying a balance each month based on the ...