Category: Bookkeeping

If your small business primarily has cash transactions, has no inventory, and has limited transactions, then the cash basis might be the more straightforward method to adopt. However, the cash method might not depict the most accurate or updated picture of the company’s financial health. Before selecting one method over another, take the following factors […]

As an employer, you must determine how to treat an employee’s unused vacation time. You are responsible for calculating vacation accrual and creating a vacation accrual journal entry to update and balance your books. Regardless of whether you call it a vacation day, sick time, furlough, PTO, PDO, or something else, you need to know […]