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Why do we raise purchase orders?

Purchase orders are used to initiate a transaction with a supplier when a business wants to purchase something. This allows both parties to have matching ...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

What is one disadvantage of a debit card over a credit card?

Disadvantage of debit cards for students Debit card payments don’t help you build credit. Debit cards also offer little fraud protection. If someone gets ...

How does paying cash on account affect the accounting equation?

Cash is an asset account. Revenue increases stockholders’ equity. This increases the left side and right side of the accounting equation by the same amoun...

How do I fix bank reconciliation discrepancies in QuickBooks?

Run a Reconciliation Discrepancy report Go to the Reports menu. Hover over Banking and select Reconciliation Discrepancy. Select the account you’re reconc...

Do you ask the right questions when renting a house?

While some renters ask the “right” questions, they often do not ask them in the most beneficial way. Since most of the pricing, location, and utility info...

How do I start an LLC in North Carolina?

How to Form an LLC in North Carolina Choose a Name for Your LLC. Appoint a Registered Agent. File Articles of Organization. Prepare an Operating Agreement...

What is 501c 3 status?

Section 501(c)(3) is a portion of the U.S. Internal Revenue Code (IRC) and a specific tax category for nonprofit organizations. Organizations that meet th...

How do expenses affect profit?

Expenses can vary according to type or classification, but with all factors being equal, any increase in expenses results in a decrease in profits. There ...

How do I report foreign rental property?

U.S. citizens and residents are subject to U.S. income taxation on their worldwide income. Therefore, if you own foreign rental real estate, you’re requir...

Do used car Dealers prefer cash or financing?

But that’s not how car buying works. Dealers prefer buyers who finance because they can make a profit on the loan – therefore, you should never tell them ...