Service charge vs Tip: What is the difference?
Understanding service charge vs tip will save you headaches when filing your finances with the Internal Revenue Service (IRS). Service charges...
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,...
Premium Cloud: Connect Bank Account, Double Entry, 2FA + more
Connect Bank account for on-demand bank feeds, manage COA, Inventory, and Permissions, and do accounting as you should. Akaunting Freemium offers...
Open Source Accounting Software and 6 Benefits
Akaunting is free and open-source accounting software that gives you complete control over your finances. Your business financial data belongs to...
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...