©D. L. MacMillan, QuickBooks Training. Web Learning
At the end of an accounting period entries are often needed to reflect a more accurate picture for that month or year. However some of these entries are made on assumptions. These entries are often made to reflect revenue and expense matching.
One example of this is in the construction business. A construction [...]
Archive of posts tagged year end adjustments
Reversing Entries
Year End Adjustments
©D. L. MacMillan, QuickBooks Training . Web Learning
At the end of each fiscal year there may be adjustments you need to consider. These might include accruing or deferring a revenue or expense, reclassification of revenue or expenses, and inventory adjustments to match book balances to actual physical counts and values. Year end adjustments [...]
