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Analyse GR/IR into Current Asset or Current Liability

SAP Accounts Payable

The purpose of the blog is to solve the confusing situation of the business process where goods are received (MIGO) without the invoice. Also, where invoices are issued in advance (MIRO) before the goods were received. The accounting treatment of WE is of an asset, whereas for RE is of liability. Then run F.13

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Understanding the Impact of Unbilled Receivables on Your Bottom Line

Billing Platform

Common among subscription-based software-as-a-service (SaaS) businesses, unbilled receivables is revenue the company has earned, with invoices sent in arrears. Simply put, unbilled receivables equates to the amount of revenue that is billable. Let’s look at some of the most common reasons your business may have unbilled receivables.

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General Ledger (GL): Definition, Significance, Implementation

Nanonets

Welcome to our latest blog post, where we embark on a deep dive into the intricacies of the General Ledger (GL) — the bedrock of any business's financial system. We'll unravel the Chart of Accounts, the backbone of the GL, detailing how transactions are organized and recorded. Let's understand this in detail.

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3 Reasons Why a Cashless Society is Inevitable?

Invoicera

Instead, people pay amount through electronic transactions, typically via a debit card or credit card. Also, it makes accounting easier because payment records can be recorded immediately and in real-time. Banking Card A banking card is a debit or credit card issued by a bank.

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Retirement Planning Tips for Businesses to Share with Employees

Analytix Finance & Accounting

Employees can start putting funds in different accounts that allow for the minimizing of tax obligations. Contribute equally to these accounts and follow the minimum funding requirement to begin proper planning. Roth 401(k): Roth 401(k) is an employer-sponsored retirement savings account. Withdrawals in retirement are tax-free.

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Simple Steps to Prevent Payment Delays and Ensure a Healthy Cash Flow

Counto

Simple Steps to Prevent Payment Delays and Ensure a Healthy Cash Flow As a business owner, you know how crucial it is to receive payments on time. In this blog post, we’ll explore practical steps to help you minimise payment delays and maintain a healthy financial position.

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Understanding the Accounts Receivable Process: Step-by-Step

Billing Platform

Consisting of a series of steps, the accounts receivable process refers to the money owed to a business for the purchase and delivery of goods or services. Accounts receivable (AR) provides the critical link between making the sale and receiving payment. Think of it as an IOU to your business.