Why is Account Payable a Current Liability? Accounts Payable Accounts payable is a type of current liability that represents an organization’s outstanding debt to its suppliers. It is a short-term debt to be paid within a year and is an obligation to pay for goods and services that have been received but not yet paid … Read more
Is Bad Debt Expense an Operating Expense Bad Debt Expense Bad debt expense (BDE) is an expense classified under SG&A, which is an operating expense. It is created when an account receivable is deemed uncollectible and is reported on the income statement. The purpose of recording BDE is to reduce the amount of receivables on … Read more
Is Software a Current Asset? Computer Software Computer software is classified as an intangible asset and can be considered a current asset depending on its cost or other criteria. Computer software is a set of instructions for a computer that can be used for a variety of purposes. These instructions can be pre-programmed and purchased … Read more
How to Calculate Long Term Liabilities? Long Term Liabilities Long-term liabilities refer to debts that are due in more than one year and are listed separately on the balance sheet. These liabilities can be repaid through different current and future business activities. To calculate long-term liabilities, one must first examine the balance sheet and list … Read more
Best Accounting And Bookkeeping Software For Hair Salon If you own a hair salon, you know how important it is to have accurate accounting and bookkeeping. Good software can help you save time and money, as well as provide valuable insights about your business. But with so many options on the market, it can be … Read more
Accounting For Equity Reserve: Types of Equity Reserves And Accounting Treatment Equity reserves are an important part of any company’s balance sheet. They are a type of reserve that is used to account for the value of equity investments in the company, as well as other assets that may be held by the company. Equity … Read more
How Does Getting Paid On The 15th And 30th Work? Do you find yourself constantly worrying about when your paycheck will arrive? Many people are paid at the same time each month, usually on the 15th and 30th of the month. But what does it really mean to get paid on the 15th and 30th? … Read more
How To Resolve A Quickbooks “Unexpected Error”? Have you ever been in the middle of crunching numbers in QuickBooks only to be met with an “Unexpected Error” message? It can be a very frustrating experience, especially when you don’t know what went wrong. Don’t worry; there are simple solutions that can help you resolve this … Read more
How Many Months Do We Have In The University Semester? The academic calendar is an important part of a university student’s life. It defines when the semester begins and ends, determines the amount of work to be done in a set period of time, and helps students plan for their future. But have you ever … Read more
If The Irs Says, “We Scheduled Your Payment To Be Mailed On Friday,” When Will I Get It? Have you ever waited anxiously for a payment that the IRS said was scheduled to be sent on Friday? If so, you are probably wondering when that payment will arrive in your mailbox. Many of us have … Read more