by Bo Washington | Nov 29, 2022
It is a promise by a business to pay its suppliers and other creditors in the future. The interest that accrues on the accounts payable is a cost of doing business. It will show up on the profit and loss statement as a cost of doing business. It will also be a source...
by Bo Washington | Nov 26, 2022
Accounts receivable financing is the selling of your customers’ bills to a third party who then purchase those bills and return that cash to you. The third party known as an AR company will typically lend money to you based on your customer’s credit score....
by Bo Washington | Nov 30, 2022
Revenue is the amount that a company receives from selling goods or providing a service. Accrued expenses represent money that a company has spent but has not been collected yet. The difference between these two amounts is known as a “working” or...
by Bo Washington | Dec 19, 2023
Welcome to the world of financial empowerment, where amortization takes center stage. While it might sound like a complex term, amortization is a financial superhero that can work wonders for your long-term goals. In this article, we’ll explore the lesser-known...
by Bo Washington | Nov 29, 2022
Assets have a value and are used to produce revenue. The value of an asset can change over time. The value of an asset is important to know and keep track of. If an asset is worth more than the amount of money the business owes, it has a positive cash flow. If an...