Accounting Tools

JULY 28, 2023

The primary circumstance under which the installment method is used is a transaction in which the buyer makes a number of periodic payments to the seller, and it is not possible to determine the collectability of cash from the customer. Calculate the gross profit rate for installment sales occurring in that year.

Cash Collection 40

Cash Collection Accruals Collections Record Keeping 40

Nanonets

SEPTEMBER 22, 2023

The  OTC process  encompasses a series of steps, starting from when a customer makes a purchase to when the business receives and clears cash for that purchase. Additionally, an optimized OTC process promotes faster payment collection, improves cash flow, and drives  revenue growth.

Revenue Cycle Management 40

Revenue Cycle Management Revenue Cycle Collections Invoicing 40

Accounting Tools

APRIL 16, 2023

The direct method of presenting the statement of cash flows presents the specific cash flows associated with items that affect cash flow. Using the direct method may require that the chart of accounts be restructured in order to collect different types of information.

Cash Collection 40

Cash Collection Collections Reconciling Financial Statements 40

Accounting Tools

OCTOBER 11, 2023

Related Courses The Interpretation of Financial Statements The Statement of Cash Flows What is the Direct Method? Under the direct method, actual cash flows are presented for items that affect cash flow. What is the Indirect Method?

General Ledger 40

General Ledger Cash Collection Accruals Financial Statements 40

Accounting Tools

MARCH 2, 2024

In addition, the effects of changes in the various working capital line items on the balance sheet must also be taken into account. For example, an increase in accounts receivable represents a cash outflow, while a decrease in accounts receivable represents a cash inflow.

Financial Statements 40

Financial Statements Accounts Payable Accounts Payable Accounts Receivable 40

Nanonets

APRIL 14, 2024

  Accounts Receivable Tools HighRadius Regarding Sage Intacct integrations, HighRadius adds a lot to the mix. This accounts receivable automation platform uses AI and machine learning to accurately forecast cash flow, help resolve payment disputes, and improve AR turnover metrics.

AR 52

AR Payroll Data Entry Accounts Payable 52

Accounting Tools

MAY 11, 2023

Under the indirect approach, the statement begins with the net income or loss reported on the company's income statement, and then makes a series of adjustments to this figure to arrive at the amount of net cash provided by operating activities.

Financial Statements 40

Financial Statements Cash Collection Collections Payroll 40

Jetpack Workflow

JUNE 27, 2023

However, firms just starting to offer client accounting services may need to get comfortable taking on a more involved role with clients before rolling out more advanced services. From there, it can add more options, like virtual CFO services.

Accounting 52

Accounting Accounting Financial Reporting Cash Collection 52