Business owners who offer credit sales understand that at some point, an account may become past due. While it’s unfortunate, not all customers may pay in a timely manner. It is important to understand when an account is simply overdue … Read More
Author Archives: HappyAR
When Does an Account Become Uncollectible?
What Is a Negative Cash Conversion Cycle?
A cash conversion cycle is a familiar term in accounting. It describes how long it takes to convert inventory into cash. The cycle considers the time required to sell inventory and collect receivables, as well as the time the company … Read More
What Is an Aged Trial Balance?
As a business owner, you will need to understand the concept of an aged trial balance. An aged trial balance can be used to determine how long your company’s debts have been outstanding. It can also show how long your … Read More
What is an ACH Payment?
An ACH payment is a type of electronic payment initiated through the Automated Clearing House Network. The payment is initiated between two banks or between two bank accounts that are held by the same bank. The ACH Network is overseen … Read More
What are Net 30 Terms?
One of the first things that a business must determine when engaging with a new customer is the payment terms they will offer. There are all sorts of options available. Some of these include: Payment prior to delivery of goods … Read More
What Is an EFT Payment and Why Is It Important?
An electronic funds transfer (EFT) is simply the electronic movement of money from one bank account to another. It is a blanket term that applies to any type of transfer of money that occurs electronically. These types of payments have … Read More
How to Use QuickBooks
If you’ve recently purchased QuickBooks Intuit Online to perform bookkeeping for your small business, you’re likely wondering how to use it. QuickBooks can be intimidating, especially if you’re not an accountant or you haven’t used accounting software before. That’s okay … Read More
QuickBooks Desktop 2021
As a small business owner, it can be difficult to decide on appropriate accounting software that fits your needs. There are many to choose from — QuickBooks, Xero, and FreshBooks are just a few options. For U.S.-based companies, QuickBooks remains … Read More
Money by QuickBooks
Money by QuickBooks is a new offering from Intuit designed to help small businesses manage their cash flow. Originally announced in October 2021, it is available as a mobile app through Android and Apple platforms. Its purpose is to give … Read More
Xero Vs QuickBooks – An Overview and Comparison
As a small business owner, you need accounting software that can help you manage your revenues and expenses, as well as provide you with the insight you need into your company’s current financial status. Financial management is an integral part … Read More