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 ...

When you reach the end of a fiscal quarter, month or year, the numbers recorded in your ledgers are your company's unadjusted trial balance. These figures will become the basis for your financial ...

You make adjusting entries in your accounting records at the end of an accounting period to account for revenues and expenses that you have earned or incurred but not yet recorded. Adjusting entries ...