Lucas Downey is the co-founder of MoneyFlows, and an Investopedia Academy instructor. Samantha (Sam) Silberstein, CFP®, CSLP®, EA, is an experienced financial consultant. She has a demonstrated ...

Merchants who accept card payments through a point of sale (POS) system may find themselves in the position of running a force pay debit transaction - triggering a force pay debit memo. A force pay ...

Debits and credits are used to monitor incoming and outgoing money in your business account. In a simple system, a debit is money going out of the account, whereas a credit is money coming in. However ...

Learn what a contra liability account is, how it functions in financial accounting, and explore examples of this essential component in balancing liabilities.

It’s important to know how to take advantage of credit and debit cards and using them correctly is particularly important for college grads. Building credit will allow you to make bigger purchases, ...