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LedgerSMB supports multiple currencies, multiple sales or VAT tax rates and per-user language and locale (number formatting) settings. It also supports per-customer language settings, so invoices can be translated into various languages when printed, and per-language invoice templates are also an option.
Accounts receivable represents money owed by entities to the firm on the sale of products or services on credit. In most business entities, accounts receivable is typically executed by generating an invoice and either mailing or electronically delivering it to the customer, who, in turn, must pay it within an established timeframe, called credit terms [citation needed] or payment terms.
In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity.
Cashflows insufficient. The term "Cash Conversion Cycle" refers to the timespan between a firm's disbursing and collecting cash. However, the CCC cannot be directly observed in cashflows, because these are also influenced by investment and financing activities; it must be derived from Statement of Financial Position data associated with the firm's operations.
Separate account records are maintained for petty cash, accounts payable and accounts receivable, and other relevant transactions such as inventory and travel expenses. To save time and avoid the errors of manual calculations, single-entry bookkeeping can be done today with do-it-yourself bookkeeping software.
Since the user base of the BAI format has reached critical mass and is considered self-supporting, BAI no longer actively supports (or charges for) the BAI format specifications, which are now freely available as a 104-page PDF document (see the external link below to the "Cash Management Balance Reporting Specifications").
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