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What is accounts receivable?
Accounts receivable is the money customers owe your business for products or services that have already been delivered or invoiced.
what are accurals?
Accruals are a list of expenses you have incurred but not yet paid, or a list of sales that have been completed but not yet billed.
What is accounts payable?
Accounts payable is money your business owes to vendors and suppliers for products or services that have already been delivered or invoiced. In other words, it’s money you will pay.
what is a balance sheet?
A balance sheet is an overview of your company’s financial status. It reports assets, liabilities, and equity at a specific point in time.