Bookkeeping

This amount is recorded in Accounts Payable immediately to keep the books accurate and the vendor relationship strong. Accounts payable differ from other types of current liabilities like short-term loans, accruals, proposed dividends and bills of exchange payable. The change in accounts payable subtracts the ending balance in the current year from the prior year’s […]

In most cases, rental income is considered passive income by the IRS. This means it Liability Accounts is taxed at the ordinary income tax rate, rather than a lower capital gains rate. Features include a complete accounting system with full general ledger accounting, tenant screening with access to credit, criminal, and eviction reports, and online