Payment terms outline when and how customers should pay, helping to prevent late payments. Using accounting software can streamline invoicing and make it easier to manage payment terms.

Of course, staying out of jail is a good thing. And a good basic accounting system will provide useful financial information that will enable you to run your business proactively rather than ...

Accounting method that records revenues and expenses when they are incurred, regardless of when cash is exchanged. The term "accrual" refers to any individual entry recording revenue or expense in ...

This allows accounting data to be consistent in terms of time frames. Fiscal year-end is the last day of a company's 12-month accounting period, which is used for financial and tax reporting purposes.