At the end of an accounting period, certain accounts are closed so they have a zero balance at the beginning of the new accounting period. The act of zeroing these accounts is called closing entries.

Maintaining a general ledger helps you gauge a business's financial health and avoid accounting mistakes. Learn what a ...

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

T-accounting is a method used by accountants and bookkeepers that gets its name from the T shape formed by the two columns used to record entries. Also called double-entry accounting, T-accounting ...

Understand adjusting entries for accounting purposes, how they are made and what they impact. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

The double-entry system protects your small business against costly accounting errors. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...

We are a team of writers, experimenters and researchers providing you with the best advice with zero bias or partiality. Proper bookkeeping is an unavoidable task when running a small business, but ...