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 ...

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 ...

Credit means different things depending on its context. For example, the amount available to borrow from a vendor. A credit in accounting is a journal entry with the ability to decrease an asset or ...

When you take cash out of your business and put it into a restricted fund, meaning it's set aside for a specific purpose, the transaction must be recorded in accordance with generally accepted ...