If you allow customers to pay via invoice at a later date, this is an accrual accounting practice. There are specific accounts used to record these transactions as the process goes from opening the ...

It’s never fun to ask people to pay up. Having a formal, professional system for keeping track of accounts receivable and billing not only will make the process relatively painless for you, but also ...

Most businesses offer their customers the option to pay on credit — often called “trade credit” — to provide added flexibility and convenience. When a customer purchases a product or service on credit ...