Unbilled accounts receivable is also an accounts receivable which is not invoiced to the customers. So, it's a revenue where there is a postponement of billing. This GL forms part of the current asset in the Balance Sheet. How do Unbilled accounts receivable … [Read more...] about Unbilled Accounts Receivable
Accounting
Cash Dividend Journal entry
The dividend is a way of sharing profits with investors. Do you know the reason to Pay Dividends? Those are significant motivating factors for driving business investments. So, Companies tend to declare dividends to its shareholder. We must follow several steps to … [Read more...] about Cash Dividend Journal entry
Topside Entry and its Accounting
A topside entry is an accounting journal entry used to correct or adjust the GL Accounts. Topside entries will not be recorded in the Sub Ledgers. Those are posted directly in the General ledgers Why record a topside entry? It adjusts the account balances without … [Read more...] about Topside Entry and its Accounting
Discount received journal entry
Discount received Journal Entry is to record a gain. It's a benefit to the business In Other words, that's a non-cash inflow. We'll understand each of the steps involved in recording it. Discount Received Journal Entry steps Step 1 We need a separate GL … [Read more...] about Discount received journal entry
Wasting Assets (Meaning, Example & Estimate Useful Life)
Wasting assets are a type of asset or resource that, when used, is gradually consumed and eventually results in its complete depletion. That’s quite common, right? No Exceptions to this point. All assets will lose its value for continued usage. The best example is … [Read more...] about Wasting Assets (Meaning, Example & Estimate Useful Life)
