Extending credit to customers can help grow your business, but it also comes with risks. Not every customer pays on time — or at all — which is where bad debt comes into play. Knowing how to calculate and manage bad debt expenses is important. This helps businesses that rely on invoicing stay financially stable. […]
Want to join the over 96% of U.S. workers who get their paychecks by direct deposit? Are you wondering how to do a direct deposit set up? In our digital age, direct deposit has become the go-to method for receiving payments. It make sense. Direct deposit offers a super easy, fast, and safe way to […]
Ever look at your paycheck and wonder how much money you actually made before taxes and deductions? That’s your gross income, and it’s the total amount you earn before anything gets taken out. This number is important because it helps determine how much you owe in taxes, how much you can borrow for a loan, […]
Sometimes, an employee’s paycheck doesn’t match what they were supposed to earn. When that happens, retroactive pay (retro pay) is used to fix the mistake. This can happen for a few reasons—maybe there was a payroll error, a raise wasn’t applied on time, or someone miscalculated their wages. Whatever the reason, it makes sure employees […]
In this comprehensive guide, we’ll explore What is a Pay Stub? Everything you need to know, including the information they contain, their significance, and best practices for managing them. Understanding financial documents like pay stubs is essential for both employers and employees. A pay stub, also known as a pay slip or paycheck stub, provides […]
If you’ve ever reviewed your bank account details and come across the term “ledger balance,” you may have wondered, “What does ledger balance mean, and how is it different from my available balance?”. Understanding the concept of a ledger balance (LB) is crucial for managing your finances effectively, especially to avoid overdraft fees or financial […]
Gross profit is a financial metric that represents a company’s revenue after deducting the cost of goods sold (COGS).
Break-Even Point is that moment when the company’s income equals the expenses, so there is neither benefit nor loss.
