When you buy supplies for your company, you record the expense in your supplies account. Once the supplies are used, they become an expense that must be listed on the income statement. You need to ...

Understand adjusting entries for accounting purposes, how they are made and what they impact. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

Adjusting entries are a periodic requirement for an accrual-based accounting system. Its advantages are that it keeps the books in order and that it matches revenues and costs to periods in which you ...