You can also experiment with the calculator to see how different interest rates or loan lengths can affect how much you’ll pay in compounded interest on a loan. If you leave your money and the returns you earn are invested in the market, those returns…
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As with most types of software, the best invoicing software programs offer many levels of security. Bill.com is a financial management platform designed to streamline and automate various processes for small businesses and midsize companies. Chargebee offers a free starter plan for starting companies, a…
These agreements are particularly important and useful in what would otherwise be risky transactions, such as certain real estate and international trade contracts. Often in international trade, a letter of credit is used to signify that a payment will be made to the seller on…
Items on the balance sheet such as allowance for doubtful accounts and allowance for bad debt are based on estimates. The useful lives for calculating depreciation is another common estimate. If these estimates are incorrect, the net value of the asset can be under- or…
The lack of attention FreshBooks gives to reports is puzzling, given its otherwise robust options. FreshBooks lost the round for the same reason in our FreshBooks vs. Wave article. In FreshBooks, the “make recurring” option appears on every bill you input. FreshBooks lets you pick…
The three main types of financial statements are the balance sheet, the income statement, and the cash flow statement. These three statements together show the assets and liabilities of a business, its revenues and costs, as well as its cash flows from operating, investing, and…
Because inventory levels vary widely across industries, in theory, this ratio should give us a better reading of a company’s liquidity than the current ratio. Using our ABC Company example (with inventory of say $29m), the acid-test ratio would be 100,000,000 minus 29,000,000 divided by…
Like any other expense account, you can find your bad debt expenses in your general ledger. Bad debts expense refers to the portion of credit sales that the company estimates as non-collectible. However, businesses that allow credit are faced with the risk that their receivables…
We saved more than $1 million on our spend in the first year and just recently identified an opportunity to save about $10,000 every month on recurring expenses with Planergy. FloQast™ Ops is a workflow manager that extends the power of FloQast Close, providing greater…