Accounting is the practice of recording a company’s financial transactions. To do this, it relies on two fundamental records: credit and debit in accounting. The ladder, a debit, is a journal entry ...

Under accrual-based accounting, accountants aim to record transactions in the period they relate to rather than the period in which they are paid. This complies with the accounting principle of ...

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 ...