July 22, 2022
Charles Lutwidge
What is an Invoice Number And How To Generate It
A number always has to be assigned to an invoice, which affects the financial reporting and general documentation. Keep reading the article to learn what an invoice number is and why it’s important. Invoice Definition An invoice is a bill...
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July 21, 2022
Charles Lutwidge
What’s the Difference Between Gross Pay and Net Pay
Starting a business is always exciting. You get a chance to optimize your small business, find clients, new directions, etc. An expansion of a business means you need employees. And here comes the not-so-exciting part — dealing with payroll. Payroll...
July 19, 2022
Charles Lutwidge
What is the Financial Accounting Standards Board (FASB)
The Financial Accounting Standards Board is an independent non-profit organization launched to create and optimize financial accounting standards in the private business sector. Keep reading the article to learn more about FASB and how it works. You will also learn...
July 15, 2022
Charles Lutwidge
What is a Deposit Slip
You may have heard about deposit slips since they are commonly used when depositing money in a bank. In some cases, bank customers must fill out deposit slips to direct their funds to the correct bank account. A deposit slip...
July 13, 2022
Charles Lutwidge
Mark to Market Accounting: What is it and How it Works
Mark-to-market is a way of estimating the fair value of accounts subject to fluctuations over time, for instance, assets and liabilities. Its goal is to provide realistic time-to-time estimations of the company’s or institution’s financial health based on the current...
July 12, 2022
Charles Lutwidge
What Is a Voided Check and When to Use One
Writing paper checks used to be popular a few decades ago. Today, most people prefer managing their finances online. Moreover, it’s much easier to use electronic checks instead of paper ones. The statistics show that around 55% of US citizens...
July 08, 2022
Charles Lutwidge
Total Equity Formula
Equity in a financial world is a crucial concept and often has different meanings depending on the context. The most common type is related to shareholders’ equity. It is calculated by using the business’s total assets value and subtracting its...
July 06, 2022
Charles Lutwidge
What is Reorder Point
Maintaining the inventory is not as easy as one would think. A company must have enough items to supply customers, plus more items in case of unexpected increased demand. But buying too many items beforehand is not an option since...
