If your results show that, say, there’s a significant percent decrease in your company’s cash, you might be experiencing financial problems. Investopedia defines an asset as “Anything of value that can be converted into cash.” In other words, an asset provides economic value to businesses and organizations. To complete …
There are a few theories on the origin of the abbreviations used for debit (DR) and credit (CR) in accounting. To explain these theories, here is a brief introduction to the use of debits and credits, and how the technique of double-entry accounting, came to be. The company originally paid $4,000 for the asset and […]
All the transaction details and invoices can be stored using Formplus storage. Accounting forms also help investors and stakeholders to evaluate the performance and financial state of a company. This article explains the different types of disclosure forms, their uses, and also show you how to create one using Formplus. This post will explore …
That said, there is a potential downside to depreciation, and that comes when the investor sells a property that has been depreciated for a number of years. As the years go by and depreciation is allocated to a property, the amount of accumulated depreciation will increase as well. As the accumulated depreciation increases, the net […]
Just imagine having tens or hundreds of customers purchasing or paying at the same time, it’d be hard or maybe even impossible to keep track of a specific customer’s credit balance. It is more detailed than the general ledger as it also includes the transaction and payment of each customer who availed themselves of credit. […]
It is also important to put the plan and its terms in writing and have both parties sign it. Also make all future sales cash on delivery (COD) until the past-due amount is paid in full. Studies show that the longer receivables go uncollected, the less likely they are to ever be collected, either partially […]