Wednesday, April 30, 2008

Accounting Tips Adjusting Entries

Three Main Rules to follow when working with adjusting entries:

1. An Adjusting Entry always involves at least one account from the income statement and one balance sheet account.
2. Adjusting entries never involve the CASH account.
3. Adjusting entries are made at the end of the accounting period.

Related Adjusting Entry Links:
Four Types of Adjusting Entries
Adjusting Journal Entry for Note Receivable

No comments:

Popular Accounting Problems

The information on this site is for informational purposes only and should not be used as a substitute for the professional advice of an accountant, tax advisor, attorney, or other professional.