Customers can pay instantly by credit card or Apple Pay when they view the invoice online. Simply email your customers an invoice and they can use the secure “Pay Now” button to send over your payment. I look at the … Continue reading →

Regardless of which you choose, you will have to pay processing fees to accept invoice payments online. Wave also offers paid products for payroll, coaching and mobile receipt scanning. Wave’s invoicing is free and unlimited, with customizable templates and a … Continue reading →

A seller can only reverse a credit memo if done within the respective accounting period. Once the accounting period has ended and the seller has transferred the credit memo to the accounting department in the ERP or accounting system, it … Continue reading →

Rather than having the annuity holder choose their own securities, which is how variable annuities typically work, an indexed annuity’s payouts will be determined by a somewhat fixed bundle. Annuities are usually created and offered by insurance companies, and clients … Continue reading →

In many cases, the cash value inside of permanent life insurance policies can be exchanged via a 1035 exchange for an annuity product without any tax implications. Since these assets may not be enough to sustain their standard of living, … Continue reading →

The precision of these balances is crucial for calculating net income, which is a key indicator of the company’s profitability. The concept of a normal balance for each account https://www.bookstime.com/ type is integral to the coherence of financial records. It … Continue reading →

In this case, the debits on the left-hand side would be considered the normal balance of the account because it’s a cash account, which is considered an asset account. This means when a company makes a sale on credit, it … Continue reading →

If you’re finding withdrawals that aren’t listed on the bank statement, do some investigation. If it’s a missing check withdrawal, it’s possible that it hasn’t been cashed yet or wasn’t cashed by the statement deadline. Consider performing this monthly task … Continue reading →

One is making a note in your cash book (faster to do, but less detailed), and the other is to prepare a bank reconciliation statement (takes longer, but more detailed). Once you’ve figured out the reasons why your bank statement … Continue reading →

Banks can also make errors, and if the mistake can’t be identified, contact the bank. Keeping track of the entire reconciliation process is crucial for reporting https://www.kelleysbookkeeping.com/what-is-the-purpose-of-contra/ errors and corrections to the management team later. Documentation also helps non-reconciliation employees … Continue reading →