Keeping track of the money your business owes its suppliers and vendors is crucial to its financial health and long-term viability. That’s why all businesses need an accounts payable reporting process ...

An efficient accounts payable (AP) process is a necessity for any business as it ensures that vendors and suppliers are paid on time and reduces waste by eliminating late fees and duplicate payments.

Accountants record closing entries at the end of every accounting period. Closing entries transfer the revenues and expenses the company incurred during the period to the equity section of the balance ...