Businesses provide products or services in exchange for money. The purpose of accounting is to record these financial exchanges or transactions. Simply put, accounting transactions are records kept of ...

Learn how to reconcile your business’s bank account by comparing your recorded transactions to the bank statements. Then, you can follow up on any errors.

Accountants record transactions between buying companies and selling companies differently depending on when the transfer of purchased goods actually occurs. Which company pays for shipping charges to ...

How Ledgers and Journals Are Used in Accounting Get an overview of these fundamental bookkeeping tools. Ledgers and journals are the foundational tools used in the bookkeeping process. A ledger is a ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Forbes contributors publish independent expert analyses and insights. Mike Kappel is the Founder of Patriot Software, LLC. Like it or not, managing your accounting books is all part of being a ...

Spend-related Business Process Workflow A graphical and table view of the order of approvals for spend transactions. Supplier Registration Request Notification Process Changes A note on enhancements ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Timothy Li is a consultant, accountant, ...