Danielle Bauter

The main differences between Melio vs BILL (formerly Bill.com) are the market segments catered to. Both are online payment platforms designed to streamline A/P and A/R processes for businesses, but they offer distinctive features. Ultimately, the choice between BILL vs Melio should be driven by your business’s size, complexity, and specific demands—which will ensure that…

I’ll walk you through how to ask for payment in an email, specifically in four scenarios. To ensure prompt payment, I suggest emailing the initial payment request and invoice within one to two days of completing the job, always maintaining a professional yet friendly tone in your customer communications. When sending a payment reminder, include…

Interest payable is a liability that represents the amount of interest a company owes on its borrowings as of a specific date. It’s the interest that has accrued or accumulated over time but hasn’t been paid yet. This accrual method is a key accounting principle ensuring financial statements accurately reflect a company’s financial obligations at…

A trial balance is an internal accounting tool used to verify the accuracy of the bookkeeping system. It’s not a financial statement; it’s a list of all general ledger accounts with their respective debit or credit balances at a specific point in time. The fundamental principle behind a trial balance is that the total debits…

The main difference between HoneyBook vs QuickBooks is the primary need they cater to. While HoneyBook is an all-in-one client and business management platform designed specifically for service-based businesses, QuickBooks is primarily accounting software, focusing on financial management. Rather than choosing one over the other, consider integrating HoneyBook with QuickBooks to combine the strength of…

A chart of accounts is one list of all of your company’s accounts. Similar to a filing cabinet for your company’s accounting system, it’s used to organize transactions into groups. In a chart of accounts, you’ll typically find an account number, account name, description, account balance, and account category. Account categories include assets, liabilities, equity,…

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…

Bookkeeper360, founded in 2012, is a financial technology firm that offers accounting and cloud-based bookkeeping and business advisory services. As a Xero Platinum partner, Bookkeeper360 provides seamless integration with Xero’s cloud-based accounting software. For cash-basis accounting, pricing starts at $399 per month for companies with up to $20,000 in monthly expenses. For accrual-basis accounting, prices…

I have compiled a list of 14 of the best accounting websites and accounting blogs that can assist you with staying up-to-date on important accounting topics, learning accounting principles, and troubleshooting issues with your accounting software. 1. Financial Accounting Standards Board (FASB) Who it’s for: Accounting and finance professionals, investors and analysts, accounting students, and…

Xendoo, a technology-based online bookkeeping and accounting service, specializes in working with small businesses. It provides you access to a dedicated team of expert bookkeepers and accountants who provide bookkeeping, tax preparation, tax consulting, and filing services. With transparent pricing that’s based on your monthly expenses (starts at $395 per month for up to $50,000…

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….