Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.

You write off your uncollectable accounts by establishing a bad debt expense account and an allowance for doubtful accounts. These accounts include the dollar amount of uncollectable accounts you ...

A small business must record all transactions related to customer sales and payments on the company's general ledger and accounts receivable ledger. Journal entries are used to record these ...

Increasing accounts payable can boost a company's cash flow by delaying payments. Higher accounts receivable can reduce cash flow since it involves waiting for customer payments. Review the statement ...