When you’re talking to investors or accountants, they’ll probably say net difference between earnings and revenue income. But if you’re explaining performance to a founder or a team lead, net profit may feel more intuitive, because it sounds more like actual money earned. Net income is typically considered the more formal, accounting-driven term. You’ll see […]

These obligations usually arise during day-to-day business operations and are settled within a standard credit term, often 30 to 60 days. Unlike notes payable, accounts payable do not require a formal promissory note or involve interest, unless payments are delayed past their due date. With a solid grasp of accounts payable meaning, a company can […]