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Credit/Debt Management

Recent Answers

2017-01-14 Quicken & Other Budget/Accounting Software - Working Capital:

Hi FA,     Since the capital deposited needs to be paid back to the bank, it is indeed a loan.   Set up a new chart of account, type = long term liability, name = bank name + last 4 digits of loan account

2016-12-20 Bankruptcy Law - Can a bankruptcy trusty order a:

A bankruptcy trustee can ask for the return of the money or assets. If the recipient won't turn it over, the trustee may sue the recipient and seek a court judgment against the recipient to recover the

2016-12-17 Quicken & Other Budget/Accounting Software - Payment:

Hi FA,     1. How was the payment originally recorded?  What 2 chart of accounts were posted?     If no payment was entered, how did you reconcile the bank account?    2. If indeed the payment was made

2016-12-17 Quicken & Other Budget/Accounting Software - Payment:

If you have to repay to "company A" the $130,000 then you have a loan     1. Post the bill in accounts payable for $130,00 and code to the appropriate account     (inventory or COGS)     2. Setup new Chart

2016-12-06 Living on a Budget, Saving - Building Credit:

Here is how your score is determined-  Payment history (35%)  Amounts owed (30%)  Length of credit history (15%)  Credit mix in use (10%)  New credit (10%)  More info here


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