Financial accounting is a multi-step process for companies following double-entry methods. The first and most important step begins with a journal entry: the recording of financial information related ...

Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. She has worked in multiple cities covering breaking news, politics, education, and more.

A business may have system-generated and manually entered journal entries for accounting. Some entries, such as accounts payable or payrolls, are automatically recorded in the computer system when a ...