Adjusting journal entries: Adjusts accounts directly by increasing or decreasing accounts
- Directly impacts the books and records without changing individual transactions
Common adjustments: Depreciation, amortization, capitalization of assets purchased, accrued expense liabilities, prepaid assets, investment performance adjustments, and unearned revenues
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One of your top priorities as a small business owner is keeping a close eye on the money you bring in and pay out, which is why it’s critical to have the right accounting software. You need a program that helps you accomplish your daily accounting tasks. Here are our best picks for tools we recommend and use.
