TAP HERE
1. Identify Accrued Expenses 2. Record the Accrual 3. Adjust Entries
Accrued expenses refer to expenses incurred by a business that is yet to be paid. These expenses are recorded as liabilities in the accounting books, even though payment has not been made.
1. Timely Recognition 2. Accurate Estimations 3. Regular Reconciliation 4. Cash Flow Projections