When the firm accrues $20,000 in interest after the first month, the company will debit $20,000 as interest expenditure and credit the same amount to the payable balance sheet. A tremendous... Read more

Yes, there are legal considerations when dealing with accounts receivable. Businesses must comply with debt collection laws, consumer protection regulations, financial reporting standards, a... Read more

For reviewing past reconciliations, navigate to the Reports menu and select Reports Center. Choose the account you’ve reconciled and select the type of report you need, whether it’s detailed... Read more

It has no fees when accessing 43,000 ATMs, and the bank reimburses up to $10 in ATM fees charged by other banks each month. With so many no-monthly-fee checking accounts to choose from, ther... Read more

There are a few important things to consider when you’re planning to invest in preferred stocks. If you prefer to buy-and-hold investments and emphasize dividend earnings, a preferred... Read more

For example, public companies are required by law to use Generally Accepted Accounting Principles (GAAP), while private companies may use any accounting method that suits their needs. Accoun... Read more