Businesses can record expenses and payables by using either the cash or accrual method of accounting. The Internal Revenue Code specifies the method a public corporation must use under certain ...
The following general ledger/commitment items are used to record expenses as category 2 and 3 of the Statement of Financial Activity (SoFA) report. The categories are outlined alphabetically. Each ...
After starting three small businesses, I've learned firsthand the headaches that accounting causes for most small business owners. It’s one of those back-office tasks that never cross your mind when ...
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