Cover Story

Author: Michael Shultz, Director of Finance Transformation

Cash Reconciliation: How to Reconcile Petty Cash

What is Petty Cash Reconciliation? Petty cash reconciliation is the process of verifying transactions involving petty cash funds. Its purpose is to ensure that funds are being used appropriately. It is an important internal control for fraud prevention. How Do...

What Is A Journal Entry?

2-minute read A journal entry records a business transaction and is the first step of the accounting cycle. Journal entries should be made for every business transaction and are posted to the general ledger. A properly documented journal entry consists...