Unreimbursed Employee Expenses: What are they?
To understand unreimbursed employee expenses, let's look at a situation you've possibly been in when dealing with friends. So, your friend...
Consigned goods and your business finances
Starting up a business has its challenges. From thinking up an idea to birthing it, purchasing the required tools, producing goods/services,...
What does arrears in accounting mean?
When a service is delivered and the agreed payment day is missed, or the pay comes after the due date, it's...
What is the difference between gross profit and net profit?
Understanding the difference between gross profit and net profit helps you see your company's financial position. While gross and net profit...
Accounts payable vs accounts receivable: Knowing the difference
Every business makes and receives payments which, in basic terms, explains Accounts payable vs. Accounts receivable. In this article, you'll understand...
What is operating cash flow, and how to calculate it
What is operating cash flow, why is it essential for your business, and how do you calculate it? These are more...
What are Expense Accounts in accounting?
"You have to spend money to make money" is everyday phrase entrepreneurs use. While spending helps to grow your business, tracking...
What are liability Accounts in accounting?
When your business is obligated to pay vendors for services or products received, these are listed in the Liability accounts. Liabilities...
What are Asset Accounts in accounting?
Without Assets, making a case for an active and healthy business is challenging. Asset Accounts show a list of your company's...
What are Capital Accounts in accounting?
When starting a business, entrepreneurs often think of capital. Hence, capital accounts are pivotal in the process of transforming great business...