Outsourcing bookkeeping to a professional bookkeeping service provider can help small businesses save time and resources while ensuring that their financial records are accurate and up-to-date. However, outsourcing sensitive financial information to a third-party service provider also comes with its own set of risks. As part of the Gramm-Leach-Bliley Act, the Federal Trade Commission (FTC) […]
What is an A/R Aging Report? Accounts Receivable (A/R) aging report is a financial management tool that tracks outstanding customer balances and invoices. It shows the amount of money owed to a business, the length of time those debts have been outstanding, and how those debts are categorized. In simple terms, the A/R aging report […]
What is an A/P Aging Report? An A/P aging report is a financial document that shows the outstanding invoices or bills that a company owes to its vendors or suppliers. It lists all unpaid bills and invoices, categorized by how long they’ve been outstanding. The report usually shows the invoices that are due within 30 […]