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| 1 | +<!-- |
| 2 | + (Do not remove this comment block.) |
| 3 | + Version: 1.0.0 |
| 4 | + Last modified: Sep 19th 2015 |
| 5 | + Maintainers: |
| 6 | + Chris Good <chris.good@ozemail.com.au> |
| 7 | + Author: |
| 8 | + Chris Good <chris.good@ozemail.com.au> |
| 9 | + updated [FirstName LastName] <name@company.com> |
| 10 | + Translators: |
| 11 | + (translators put your name and email here) |
| 12 | +--> |
| 13 | + |
| 14 | +<chapter id="chapter_bus_intro"> |
| 15 | + <title>Business Introduction</title> |
| 16 | + |
| 17 | +<!-- <sect1 id="bus-intro"> |
| 18 | + <title>Introduction to Business Features</title> |
| 19 | +--> |
| 20 | + <para>The accounting needs of a business are quite different from that of |
| 21 | + a person. Businesses have customers that owe money, vendors which are owed |
| 22 | + money, employee payroll, more complex tax laws, etc. <application>&app;</application> offers |
| 23 | + business oriented features to facilitate these needs.</para> |
| 24 | + |
| 25 | + <para><emphasis>Accounts Receivable</emphasis> (A/R) are used by businesses to record sales for |
| 26 | + which they are not immediately paid. This is represented on the balance sheet as an asset, |
| 27 | + because the expectation is that you will receive payment soon. |
| 28 | + </para> |
| 29 | + |
| 30 | + <para><emphasis>Accounts Payable</emphasis> (A/P) record bills that businesses have received, but may not pay until later. |
| 31 | + This is represented on the balance sheet as a liability because you will have to pay for them. |
| 32 | + </para> |
| 33 | + |
| 34 | + <para>A/R and A/P accounts are used primarily when you have a lot of bills and receipts |
| 35 | + flowing in and out, and do not want to lose track of them just because you |
| 36 | + do not pay or get paid right away. For most home users, A/R and A/P are |
| 37 | + too complicated to be worthwhile. |
| 38 | + </para> |
| 39 | + |
| 40 | +<!-- </sect1> |
| 41 | +--> |
| 42 | +</chapter> |
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