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Business Budgeting Software Guide: Budgeting Software for Small to Enterprise Business

Snyder

Usually, it takes all the three major financial statements – the income statement, the balance sheet, and the cash flow statement – to create a master budget. Static budget – the most basic type of budget that takes into account only fixed expenses – the ones that don’t depend on production or sales volumes.

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

ThomsonReuters

It is reflected in the balance sheet under current liabilities. On the other hand, accounts receivable is where a business records the sale of its goods or services but has not yet collected any funds. Accounts receivable are considered current assets and are listed on the balance sheet. Is billing AP or AR?