Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Khadija Khartit is a strategy, ...

Write-up software, in general, also has more extensive reporting capabilities than many standard GL applications. This is often accomplished by adding reports such as a working trial balance to ease ...

An inventory account must be closed at the end of a company's accounting period. Closing the inventory account allows the company to carry its ending inventory balance forward to the next accounting ...

Many small businesses use a straightforward cash method of accounting, reporting income in the accounting year in which they receive it and deducting expenses in the year in which they pay them.