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Accounts payable is the amount that you owe other companies or vendors for services performed or goods purchased. When you receive an invoice, that amount is automatically included in your accounts payable balance. When you pay that invoice, the amount is transferred to whichever expense account it applies to. Here’s an example: Let’s say you […]

The two-hundred percent (200%) declining balance method of depreciation, or double declining balance method of depreciation, is an example of accelerated depreciation. Basically, accelerated depreciation is exactly what it sounds like—a greater depreciation of an asset off the starting block than the straight line method. Acceleration means you are initially covering more “ground” over a […]

The term “Net 30” is used to refer to the amount of time (in days) a customer has to pay an invoice. If an invoice is Net 30, the customer has 30 days to pay the net amount (total minus any discounts), before a company may start adding finance charges or late fees. If the […]

Accounts receivable is the money that a company is owed, or has a right to, based on amounts due from customers who received goods or services from the company. The total amount of your accounts receivable is determined by adding up any unpaid balances on sent invoices. Your accounts receivable is included as an asset […]

When you have two transactions in your books that represent the same financial event, you can use the match feature in ZipBooks to combine (or “match”) these transactions. For example, a customer pays their invoice and you mark it as Paid using the Add Payment button. A few days later, your bank shows a deposit […]

If you have lots of records of time tracked in your ZipBooks account, it’s easy to sort and filter those records to more easily find what you need. Here’s how: Log in to ZipBooks and select Tracking from the menu. In the top left corner, above the list of hours tracked, click on Sort. You […]

We want to highlight two ZipBooks features that can help streamline your business recordkeeping and reporting. Saved Items When you create invoices, you might use the same line items repeatedly. Entering all the info over and over again can be majorly monotonous and time-consuming.   Save Items on the Spot Add a new item or […]

There are literally hundreds of wallet apps out there competing for your attention. Banks, credit card companies and app developers are all trying to capture market share by creating the best, or most familiar, digital wallet app or peer payment option for consumers. We’ve narrowed it down to 37 wallets that can help both consumer […]

Your accounts receivable balance tells you the amount of money that you have invoiced for that has yet to be paid. ZipBooks lets you create a report with the details of that balance, so you know which of your customers may need reminders to pay their bills. Here’s how to create your accounts receivable report: […]

ZipBooks offers great basic invoicing and bookkeeping right from our free plan, but as your company matures, additional options and features keep your business running smoothly. You can upgrade anytime. To upgrade your subscription: Sign in to ZipBooks and click on More at the top of your screen. Click on Subscription under the Account heading.   In […]