Danielle Bauter

An accounts receivable aging report shows all unpaid customer invoices grouped by the number of days outstanding. Its primary purpose is to keep track of unpaid customer invoices and how long they remain unpaid. A summarized A/R aging report will have one total for each customer broken up by the age of the invoice, which…

QuickBooks Online is easier to use, is more affordable for most small businesses, and has a larger support network in the form of QuickBooks ProAdvisors than Sage 50 (formerly Sage 50cloud). Meanwhile, Sage 50 is a bit more complicated, but it offers more enhanced inventory management features and multi-company support than QuickBooks Online. Based on…

A deposit in transit is a cash deposit that a business has recorded in its books but the bank hasn’t processed it and posted it to the corresponding bank account. Think of it like a package you’ve shipped. Once you hand it over to the shipping carrier, it’s “in transit” until it reaches its destination….

BILL, formerly Bill.com, is an A/P and A/R software that focuses on processing vendor billings and sending customer invoices. Meanwhile, QuickBooks Bill Pay is deeply integrated into QuickBooks Online, a complete accounting software that can also process bills and vendor payments. Overall, I found that QuickBooks Bill Pay is the better fit for most small…

Depending on whether you are a business owner or employee looking to enhance your skills or an independent bookkeeper seeking a way to increase your credibility and client base, one may be the better option. Both certifications offer you the opportunity to enhance your knowledge of QuickBooks. : Best for internal bookkeepers wanting to demonstrate…

An outstanding check on a bank reconciliation is a check that has been written and recorded in your company’s books but has not yet cleared the bank. Essentially, the cash balance has been reduced, but the bank has not deducted the amount from your account balance. This discrepancy occurs because of the time gap between…

The best free invoice generators should be easy to use and provide plenty of invoice customization options, such as the ability to choose from different templates and upload your company logo. They should be able to track outstanding invoices and offer enhanced features to simplify the billing process, like the ability to create recurring invoices,…

We’ll cover how to calculate Accounts Receivable (A/R) Net Realizable Value (NRV), which is the estimated amount of cash a company expects to collect from its outstanding customer invoices after accounting for potential bad debts or uncollectible amounts. To get your A/R NRV, calculate the gross A/R and then subtract the Allowance for Doubtful Accounts…

Ramp offers a free suite of financial management tools that help businesses manage their expenses, invoices, and budgets. These tools are designed to be user-friendly and accessible to businesses of all sizes, with features like automated expense categorization, receipt capture, and approval workflows. This platform also provides a corporate charge card that offers cashback rewards…

We’ll break down everything you need to know about how to become a QuickBooks Certified User (QBCU), from deciding which of the two end-user certifications you want to obtain (you can also choose both) to taking the exam. We also go over their advantages, as becoming a QBCU can open doors to new career opportunities…

The TTM method is essential because it provides companies with detailed, recent financial data for internal audits, financial analysis, and corporate planning. It’s useful for evaluating revenue growth, margins, sales and expense trends, working capital management, key performance indicators (KPIs), and other financial metrics. Free TTM Income Statement Spreadsheet Our free TTM income statement spreadsheet…

Fixed asset impairment is a reduction in the value of a long-term fixed asset (like property, plant, or equipment) when its book value exceeds its recoverable amount. This reflects a decrease in the asset’s future economic benefits. Impairment can happen due to various reasons, such as physical damage, economic downturns, obsolescence, and changes in business…