A business uses journal entries in its accounting journal to record transactions, such as a home purchase. A journal entry increases or decreases various account balances.

Although accountants don't need to record closing entries for accounts payable, the accounts payable function does affect the closing expense entries.

One financial accounting method businesses use is the payroll journal entry. Payroll journal entries record your workers’ pay alongside overall business expenses. While the process may look different ...

Learn how to create common journal entries for accrued interest, including adjusting entries and delayed bond issues sold at par value.