Category: Bookkeeping

Days Payable Outstanding (DPO) is a financial Certified Bookkeeper metric that measures the amount of time it takes for a company to pay its suppliers for goods and services received. DPO is an important performance indicator that allows businesses to better manage their cash flow and vendor relationships. In this article, we’ll take a deep … Continued

After transferring revenues and expenses, the remaining balance (which is net income) is transferred to retained earnings. Well, temporary accounts only track the financial activities for a specific period, and if they aren’t reset, you’d mix up your past and future numbers. Clear the balance of the revenue account by debiting revenue and crediting income … Continued