As in business company purchases materials or goods from different vendors on advance same like sales to different clients on advance, so if all clients balance is transferred to one Accounts Payable account then it will be impossible to keep track of saperate payments to different vendors that;s why separate accounts are maintained.
Most banks do not require a minimum balance to be kept in a business account. If you are looking at obtaining one, you will want to check with your local bank if they require a minimum balance.
When company purchases supplies from vendors they are require to pay them at the same time but instead of paying them out immediately they got the time to pay in future so it is the liability of the company to pay them that;s why accounts payable is liability and not the asset.
Memo Accounts are used to record non-financial or statistical data such as payroll hours or FTE's. Usually a Memo Account journal entry does not require an off-setting entry, i.e. Memo Accounts are one sided entries.
Yes, inactive accounts (the status before becoming dormant) require a deposit or withdrawal to reactivate the account. The amount doesn't matter.
All accounting entries requires Special posting keys to perform any specific kind of transaction like accounts payable entry will use separate posting key while accounts receivable entry will require separate posting key to perform transactions in SAP which insures the transactions in correct ledgers.
AP Ledger requires a subsidiary ledger to help keep the clutter down in the general ledger. The standard ledger can often fill up with a large amount of activity, making it difficult to handle.
All stakeholders require a financial report. These reports are required for the financial information to get an understanding of accounts payable and accounts receivable to obtain a better understanding of the performance of the organization.
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Merchant accounts typicaly require a credit check. Google Checkout is available without a merchant account.
Most banks do not require a minimum balance to be kept in a business account. If you are looking at obtaining one, you will want to check with your local bank if they require a minimum balance.
Yes, most high interest savings accounts require a minimum balance. Since it is high interest, it is usually a high minimum account balance as well.
When company purchases supplies from vendors they are require to pay them at the same time but instead of paying them out immediately they got the time to pay in future so it is the liability of the company to pay them that;s why accounts payable is liability and not the asset.
Yes. New accounts require the user to have a Facebook account.
A type of checking account that also earns interest is called an interest-bearing checking account. These accounts typically require a minimum balance to be maintained in order to earn interest.
Memo Accounts are used to record non-financial or statistical data such as payroll hours or FTE's. Usually a Memo Account journal entry does not require an off-setting entry, i.e. Memo Accounts are one sided entries.
You may be able to get a student bank account with bad credit if you have a co signer. Most student bank accounts require a co signer anyway.
Often times high yield savings accounts do not require a minimum balance. These accounts can also be set up in addition to an already existing checking account you may already have which makes it easy to transfer funds.