Closing the books on an accounting period is a lengthy and complex process. No matter how complex, it needs to start somewhere. For every company, big or small, it starts with a trial balance. This is ...

A trial balance is part of the accounting cycle. If the trial balance is equal, then the accountant or bookkeeper can proceed to the next step of the accounting ...

Accrual basis accounting requires your business to record revenue in the reporting period in which you earn rather than receive the revenue. Businesses that receive advance payments -- such as annual ...