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Accounts payable vs. accounts receivable: What are the differences?

ThomsonReuters

Accounts payable (AP) , is the list of all amounts a company owes to its vendors. Generally, when an invoice is received, it’s recorded as a journal entry and posted to the general ledger. This includes products or services that are purchased and invoiced.

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The Best Staff Accountant Job Description Template

Ryan Lazanis

A staff accountant primarily serves as a key financial advisor and strategist, overseeing crucial aspects of financial management and various accounting procedures. Specify the desired number of years of experience and any specific areas such as financial reporting or tax preparation. Why Join Us?

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Technology is Enabling Centralized Global Statutory Reporting

ThomsonReuters

The good news is technology can now support consistent, accurate, automated global reporting and alleviate local issues related to language translation and country-specific tax rules, document formats and filing requirements, and generally accepted accounting principles. _. Watch the entire episode.

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What Is the Bad Debt Expense Formula?

xendoo

Accounts receivable (AR) refers to the funds due to a company for products or services. After multiple unsuccessful collection attempts, businesses record bad debt expenses in the general ledger as a negative transaction. They are part of the operational costs under the income statement. When Do Bad Debt Expenses Happen?

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How to Avoid Mistakes in Accounting: 5 Common Accounting Mistakes

Snyder

Whether it’s hiring employees, getting new accounting software , or relocating, business owners want to make sure that whatever they do contributes to more stability in profits. Want to brush up on basic accounting principles or small business accounting ? Read our essential guides to accounting for beginners.

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