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From their end, the insurance company responsible for a portion of the client’s payment will document the balance it owes to the physician as accounts payable. Accounts receivable and accounts payable are essentially on opposite sides of the balance sheet. While accounts receivable is money owed to your company (and considered an asset), accounts payable […]

If they say gross, they probably mean either revenue or gross profit (you may need to ask for further clarification). From a practical standpoint, net income tells you how much profit a business is actually earning. It’s entirely possible (and not unusual) for fast-growing businesses to have excellent gross profit margins but to be unprofitable

Retained earnings provide you with insight into your the statement of retained earnings reports the amount: cumulative net earnings. But several financial statements need to be prepared to calculate retained earnings. One of them is the income statement, and you’ll need to process expenses to put this statement together. It’s easy to mistake retained earnings