I have not failed. I’ve just found 10,000 ways that won’t work. – Thomas Edison
Small Business Accounting Tip
Recording accounting journals is a process for each company. This process entails receiving income from clients and customers, recording business expenses and maintaining a business budget just to name a few. Accounting journal entries are necessary but some of those entries are expected to be reversed the next month because the actual invoice (cost) is set to be processed for payment.
Here is a summary of guidelines for reversing entries to companies of all sizes.
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