Under the accrual basis of accounting, you must record revenues and expenses in the accounting period in which they were earned or incurred, regardless of when payment occurs. An adjusting entry is a ...

Unpaid salaries are salary liabilities that you have incurred but have not paid. You must record all accrued salaries, employment taxes and related compensation expenses in the same period in which ...

Understand adjusting entries for accounting purposes, how they are made and what they impact. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...