What do you mean by PDC or post-dated check?

From the payer’s standpoint, the best way to prevent payments from being released early is to notify the bank. Be sure to verify your bank or credit union’s policy on writing post dated checks so there’s no surprise to you. Banks and credit unions will typically...

How to Include Journal Entries When Accounting for Bonds

It becomes more complicated when the stated rate and the market rate differ. The accounting treatment for issuing bonds is different depending on each type of issue. This journal entry will remove the $300,000 bonds payable together with a $6,000 unamortized amount of...

Accrual vs Deferral Accounting The Ultimate Guide

Additionally, consider consulting with an accountant or financial advisor who specializes in accrual and deferral techniques. They can guide you through the process, provide expertise on applicable regulations, and help streamline your transition to these accounting...