The accounting period were the revenue is actually earned will then be understated in terms of profit. At the end of the second quarter of 2020, Morningstar had $287 million in unearned revenue, up from $250 million from the prior-year end. The company classifies the revenue as a short-term liability, meaning it expects the amount to […]

QuickBooks Self-Employed is QuickBooks’ freelance-specific bookkeeping software. It starts at $15 a month and offers features like mileage tracking, basic invoicing, and receipt scanning. In contrast, QuickBooks Online was built for freelancers, sole proprietors, and small-business owners with employees. It has more expansive accounting features than QuickBooks Self-Employed, including report generation and business income tracking, […]

Set payroll to a schedule, so your team gets paid on time, every time. Sign up for payroll payroll right from your FreshBooks account, and our set-up process will have you paying your team in no time. Reverse your payable entries with a debit and decrease the Cash account with a credit. If that’s not […]