Foreign Transaction Fee: What is it? How does it work?
The general ledger contains an accounts payable account, which is your accounts payable control account. The cash disbursements journal has accounts payable credit and debit columns. Credit purchases and payments on account are entered in these two columns, respectively. At the end of the month they are totaled and posted to the control account in […]Read More
Effective Remedy against Non Payment of Invoices by Customer
Alternative to the filing of Civil Suit has been discussed in this article. With factoring, you sell your invoices to a company for upfront payment. Usually, the company offers you a percentage of what the invoice is worth. For instance, Kabbage offers 75%, which is a great deal if you’ve been dealing with an unpaid […]Read More