Suzanne is a content marketer, writer, and fact-checker. She holds a Bachelor of Science in Finance degree from Bridgewater State University and helps develop content strategies. Crea Taylor / ...

Under accrual-based accounting, accountants aim to record transactions in the period they relate to rather than the period in which they are paid. This complies with the accounting principle of ...

An accrual has occurred but has not yet been paid for. This can include work or services that have been completed and ...

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 ...

An important part of the monthly closing cycle for your small business's general ledger is reviewing the trial balance and posting adjusting entries to recognize accruals, prepaid expenses and correct ...