Month: December 2020

Do this at the end of the accounting period, which can be monthly, quarterly, or annually, depending on the company. Known as the “trial balance,” this provides insight into the financial health of your company and can help you identify… Read More

Adjusting entries are prepared to update the accounts before they are summarized in the financial statements. Some errors could exist even if debits are equal to credits, such as double posting or failure to record a transaction. Also known as… Read More