Learn what a contra liability account is, how it functions in financial accounting, and explore examples of this essential component in balancing liabilities.

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

The accounts payable ledger tracks all of the expenses that your business has incurred and that must still be paid. If you have a high volume of payable activity, the specifics can easily be lost in a ...

Unlike an accounts payable debt, a notes payable debt is backed by a promissory note such as a loan agreement or other contract. If your company takes on debt or makes a purchase of goods or services ...