It offers non-recourse factoring and cash advance amounts up to 95% of the invoiced amount. Terms for factoring receivables tend to be short because they reflect the payment terms of…

Our reimagined program marks the start of a new era of continued investment in the accounting industry, with more than 20 changes since the last refresh. Launching Nov. 20, this…

In the case of credit sales, the respective “debtor’s account” is debited, whereas “sales account” is credited with the equal amount. For locations with sales taxes, you also need to…

Because most accounting textbooks use double declining balance as a depreciation method, we’ll use that for our sample asset. The declining balance method is an accelerated depreciation system of recording…

Even though they are only estimates, due to their high probability, contingent liabilities classified as probable are considered real. This is why they need to be reported via accounting procedures,…

Saad Javed, Senior Manager at Tkxel, leverages over 10 years' expertise in financial analysis, M&A, and international projects. Only give access to necessary information, and consider using restricted user accounts…

Easily share project progress, generate accurate invoices, and receive payments online. Optimize bookkeeping for architects time management across your team with seamless allocations, increased timesheet adoption, and dynamic reports. There…

For example, a loan would go under liabilities since you'll have to pay it back later. Amounts owing on credit cards, funds that need to be paid to vendors, or…

Unlike other long-term assets such as machinery, buildings, and equipment, land is not depreciated. The process to calculate the loss on land value could be very cumbersome, speculative, and unreliable;…

At the end of an accounting period, the Allowance for DoubtfulAccounts reduces the Accounts Receivable to produce Net AccountsReceivable. Note that allowance for doubtful accounts reduces theoverall accounts receivable account,…