In most industries, it is normal to get paid after a job is done. However, what do you do if someone pays you ahead of time? The job is not done yet, so you can't recognize the revenue. Also, have you ever had to make a deposit on something ahead of time? If so, then...

If you are new to the profession, or a business owner that is trying to do your own accounting, perhaps nothing is more confusing than trying to figure out when something needs to be entered into the accounting records. While cash basis tends to be straightforward enough, accrual basis accounting can feel like a whole...