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Accounting Terms You Should Know

Patriot Software

As a small business owner, the idea of learning accounting lingo can be intimidating. You may not know many terms used in accounting. To better understand your business’s finances, you may want to review a few basic accounting terms. To help you get started, below are explanations of common accounting terms.

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Unlocking the Language of Accounting: Understanding Common Terms

SMBAccountant

Accounting operates within its own language, a system of terms and conventions that serve as the backbone of financial communication and analysis. Understanding this unique language is essential for interpreting financial data, making informed decisions, and effectively navigating the intricate world of business finance.

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What is Surcharging?

Lockstep

If you’re an accounting or finance professional, chances are you’ve heard of surcharging. Surcharging is an accounting term that refers to the practice of charging an additional fee for accepting a payment processed through a credit card. Let’s take a closer look.

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How CommBank and Waddle, from Xero, are unlocking cash in unpaid invoices to help small business grow

Xero

High receivables and high inventories mean that a lot of cash is locked up in working capital, which has led to an increase in demand for working capital finance solutions, explains Elizabeth. “We This information is prepared without taking into account your individual and/or business needs and objectives.

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PrimaDollar Rolls Out Indian SCF Location

PYMNTS

based supply chain trade finance platform, is rolling out its services in India, a report from The Hindu Business Online says. PrimaDollar , a U.K.-based PrimaDollar’s platform works to connect importers, exporters, local banks, logistics providers and funders, the report says.

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Free Small Business Expense Tracking Spreadsheet

xendoo

While expense tracking will remain manual, it will keep your finances organized in one place. . As you can see, all those factors are related to finances. Otherwise, it becomes harder to manage and you might not have the full picture of your finances. . We’re sharing a free business expense tracking spreadsheet that you can use.

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The Burdensome ‘Badge Of Honor’ For Overseas Suppliers

PYMNTS

“What was a 30-day payment term becomes 60 days or 120 days,” Lin said. These extended payment terms could be due to open account trade. Supply chain finance is the preeminent example of this evolution and a direct response to this near-global shift to open account terms.”.