Chart of Accounts: Definition, Setup & Examples

Most businesses will find that numerical codes that are three to five digits long will provide a good balance of information. Charts of accounts can follow many different structures and can be modified to meet almost any size or type of business. The flexibility means...

Balance Sheets 101: What Goes on a Balance Sheet?

This financial statement is used both internally and externally to determine the so-called “book value” of the company, or its overall worth. A balance sheet is one of the primary statements used to determine the net worth of a company and get a quick overview of its...

Tips to Avoid Duplicate Payments in Accounts Payable

After not receiving payment in time, the supplier might send a duplicate invoice for the same payment, leading to the accounts payable team processing both invoices. And with the built-in duplicate payment check, MHC NorthStar acts as yet another set of eyes for your...

How To Invest In Dividend Stocks

If a shareholder is receiving a dividend by mail, dividend checks are mailed on the payment date. When the small stock dividend is declared, the market price of $5 per share is used to assign the value to the dividend as $250,000 — calculated by multiplying 500,000 x...

Understanding Amortization in Accounting

As the intangible assets are amortized, we shall look at the methods that could be adopted to amortize these assets. In a loan amortization schedule, this information can be helpful in numerous ways. It’s always good to know how much interest you pay over the...