An investment property line of credit is a revolving credit facility that allows you to request funds via a draw, have the funds deposited to your account of choice, and use the funds on an as-needed basis. For an investment property, a line of credit can be used to finance property improvements, repairs and upgrades,…
What is
What’s New in QuickBooks Online & How The Updates Benefit Businesses
Editor’s note: We will continuously update this post with new features of QuickBooks Online, so be sure to check back regularly. QuickBooks Online regularly introduces new features to make the platform more user-friendly and help users improve work efficiency. Below, I’ve listed the latest QuickBooks Online updates, including new features and changes, and discussed how…
What Is Squarespace? Key Features, Benefits & Pricing
Squarespace is a hosting and website design platform that allows you to create professional-looking websites easily without design or coding skills. It offers a drag-and-drop interface, award-winning customizable templates, and fully integrated tools for ecommerce, blogging, social media, and email marketing. Squarespace isn’t just one of the original no-code website builders. It continues to be…
Open-to-Buy (OTB) Planning Guide for Independent Retailers
An OTB plan helps you have the right product quantities at the right time to maximize sales and minimize over-buying.
What Is Open to Buy? Open-to-buy (OTB) is an inventory planning strategy and formula retailers use to create buying budgets for specific periods of time. It takes into account expected beginning-of-month and end-of-month inventory, planned sales, and planned markdowns. Basically, an open-to-buy budget tells retailers how much they can spend on inventory at a future…
What Is Interest Payable and How to Calculate It?
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…
What Is Mark to Market in Accounting? [+ Example]
Mark-to-market (MTM) accounting, also known as fair value accounting, is the process of valuing assets and liabilities at their current fair value. Under US GAAP, MTM is applied primarily to financial instruments such as stocks, bonds, and derivatives, which are significantly influenced by fluctuations in market conditions. Moreover, it is not applicable in long-term fixed…
What Is Remote Deposit Capture & How Does It Work?
Remote deposit capture (RDC) is a treasury management tool and fully electronic method of banking that converts paper checks into digital images using a check scanner. Once the images are scanned, they are compiled into a batch and deposited to your business checking account. This service is offered by both traditional and online-only banks, saving…
What Is Stripe and How Does it Work? Small Businesses Guide
Stripe is a developer-centric payment processor that allows merchants to receive payments via debit or credit cards, mobile wallets, automated clearing house (ACH), and buy now, pay later services. It offers everything from payment buttons and hosted checkout pages to ecommerce store integrations. Stripe is well known for its open-source solutions and powerful API documentation….