Notes Payable

The company ABC receives the money on the signing date and as agreed in the note, it is required to back both principal and interest at the end of the note maturity. On July 1, 2021, we issue a 6-month promissory note to one of our suppliers in exchange for the...

Break-Even Analysis: Definition and Formula

For example, if you raise the price of a product, you’d have to sell fewer items, but it might be harder to attract buyers. You can lower the price, but would then need to sell more of a product to break even. It can also hint at whether it’s worth using less...

How to Start a Bookkeeping Business

QuickBooks, NetSuite, and Acumatica have been designed with customization and specialization in mind. We understand the benefits of optimizing QuickBooks for your business and industry. Our ongoing review of systems & output to ensure processes are being followed...

Chart of Accounts Detailed Guide

The COA is typically set up to display information in the order that it appears in financial statements. That means that balance sheet accounts are listed first and are followed by accounts in the income statement. Unlike balance sheet accounts, income...

QuickBooks Online vs QuickBooks Desktop 2023

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