Bookkeeping

Employment Law 101: Accounting for Vacation Pay
Accrued expenses

Accrued expenses

Accrued salaries refers to the amount of liability remaining at the end of a reporting period for salaries that have been earned by employees but not yet paid to them. This information is used to determine the residual compensation liability of a bus...
How Do You Record Adjustments for Accrued Revenue?
Understanding Accrued Expenses vs. Accounts Payable
Accrual Accounting & Prepayments

Accrual Accounting & Prepayments

They are considered to be current liabilities because the payment is usually due within one year of the date of the transaction. Accounts payable are recognized on the balance sheet when the company buys goods or services on credit. Because the invoi...