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 ...

Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.

If your small business used a mortgage for a home purchase, a journal entry affects the property, mortgage payable and cash accounts. If you paid all cash for a home, a journal entry affects the ...

Bank reconciliation wouldn't be a problem if everything on your bank statement matched up with your ledgers. Life doesn't always work that way, though. You may need ...

Financial accounting is a specific type of accounting that uses standardized processes and guidelines for businesses to record their financial transactions and prepare financial statements for ...