The Accounts Payable is part of the Current Liabilities, which is a ‘Control’ accounts capturing all the bills and payments related to Vendors, whereas the Vendor Balance Detail Report is like a sub-ledger, sum up the transactions by each vendor.

It is common for small business accounting software not includes a fixed assets module; a module which allows the user to tracks and calculates depreciation of an individual asset automatically.

Disbursement is a recovery of a payment made on behalf of another party by you as an agent or professional, such as lawyer or auditor.

Wishing all a Merry and Blessed Christmas!

Use the “Create Credit Memo/Refund” feature in QuickBooks accounting software to record the return of goods/services from a customer…

Define Fields in QuickBooks Desktop accounting software

QuickBooks allows the user to define up to 7 Custom Fields in Name and 5 in the item.