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Why is accrual accounting better than cash?

Discover why accrual accounting is superior to cash accounting in our latest blog post. Learn how accrual accounting provides more accurate and timely financial information, enhances decision-making, ... ...more

Accounting Basics

August 15, 2024•3 min read

What's an accrual in accounting

Accrual accounting is like using a credit card – you recognize revenues and expenses when they occur, not when cash changes hands. This method provides a more accurate financial picture by recording t... ...more

Accounting Basics

August 15, 2024•1 min read

How to record payroll journal entry

Learn how to record payroll journal entries, accounting for gross wages and withholdings. Just like covering a friend's parking ticket, employers pay taxes on employees' behalf. This guide simplifies ... ...more

Accounting Basics

August 04, 2024•1 min read

How to record a depreciation journal entry

Learn how to record depreciation journal entries, similar to how a new car loses value once driven off the lot. Discover the steps to accurately reflect asset value reduction in your financial records... ...more

Accounting Basics

July 30, 2024•1 min read

What is the Matching Principle in Accounting?

Learn how the matching principle aligns expenses with revenues for accurate financial reporting. Discover how this essential accounting concept works through relatable analogies and real-world example... ...more

Accounting Basics

July 29, 2024•3 min read

What are credits and debits in accounting

In accounting, debits and credits are essential tools in the double-entry bookkeeping system. Debits increase assets or expenses, while credits increase liabilities, equity, or revenue. This balanced ... ...more

Accounting Basics

July 28, 2024•2 min read

What is an accounting journal entry

An accounting journal entry records a financial transaction using debits and credits to specific accounts. Each entry must balance, meaning total debits equal total credits. ...more

Accounting Basics

July 28, 2024•2 min read

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