Unbilled Accounts Receivable

The first is the accrual entry, which is used to record a revenue or expense that has not yet been recorded through a standard accounting transaction. The second is the deferral entry, which is used to defer a revenue or expense that has been recorded, but which has not yet been earned or used. The final type is...

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The All-You-Need Checklist Bundle for Homeowners Association Management 8 Free HOA Checklists Checklist, Workflow and SOP Software

Frustrated homeowners could be left wondering who to contact with their questions. An HOA manager is tasked with administering the finances of the association. This process can be error-prone and time-consuming if performed manually, but an integrated banking system could be the solution your company needs to simplify and optimize association accounting. We recommend that this checklist is...

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Notes payable asset or liability?

For the two-year term of the note, interest expenditure will need to be recorded and paid every three months. The promissory note is due on September 31, 2022, two years after the note's original issue, which is dated October 1, 2020. The debit is to cash as the note payable was issued in respect of new borrowings. The...

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