While it seems contradictory that assets and expenses can both have debit balances, the explanation is quite logical when one understands the basics of accounting. Modern-day accounting theory is ...

In double-entry bookkeeping, every time you spend or receive money, you have to record it twice. For example, if you spend $5,000 cash to buy more inventory, you'd record that $5,000 in both the Cash ...

Check your balance online, on the phone, through your bank's mobile app, at the ATM and with bank statements. A bank teller can provide account details in person. Regularly checking your balance helps ...

Figuring out what an ideal checking account balance is can be tough. You don't want to keep too much money in your checking account, because often, these accounts pay no interest. And even if your ...

Discover how adjunct accounts enhance financial reporting by increasing liability book values. Learn how they differ from ...