ADP RUN articles

Implied warranty coverage can last as long as four years, although the length of the coverage varies from state to state. A lawyer or a state consumer protection office can tell you more about implied warranty coverage in your state. If you are in business, learn the implied warranties that pertain and adhere to them. Your own terms and conditions should be carefully reviewed by competent counsel and should form part of every transactions. Spending a few hundred or thousand now will save you t […]

Put simply, a prior period adjustment is a way for companies to correct the past financial year’s accounting errors and was reported in the prior year’s financial statements. Prior period adjustments mean correcting accounting errors and detecting omissions in the prior period’s financial statements after approval. The first is a correction of an error in the financial statements that was reported for a prior period. The second type of prior period adjustment was caused by th […]

The principal is typically the primary owner of a business, but often it is the sole owner. That’s because sole proprietorships are by far the most common form of business organization. In this case, the principal is also often the president and CEO as well as being the sole owner. However, sole proprietors don’t typically refer to themselves as principals.

Square Terminal is the card machine for everything from managing items and taking payments to printing receipts and getting p […]

In this post, we demystify how car loan principal works, how interest affects it, and some roadblocks you might run into if you try to pay it off early. You might want to pay off your car loan faster if you want to sell it or trade it in so you build equity in the car. But if you have a low incentive APR like 0% or 0.9% financing, paying more on the principal wouldn’t make much financial sense. Interest rates vary based on the lender and your credit score, and, of course, general trends […]

If a customer purchases merchandise and is dissatisfied with their purchase, they may receive a refund or a partial refund, depending on the situation. When the customer returns merchandise and receives a full refund, it is considered a sales return. When the customer keeps the defective merchandise and is given a partial refund, it is considered a sales allowance. The biggest difference is that a customer returns merchandise in a sales return and keeps the merchandise in a sales all […]

A promissory note is a written agreement between a borrower and a lender saying that the borrower will pay back the amount borrowed plus interest. The promissory note is issued by the lender and is signed by the borrower (but not the lender). It is considered a contract, and signing it legally obligates the borrower to pay back the amount borrowed, plus any interest, as defined in the promissory note. As part of the home loan mortgage process, you can expect to execute both a legally binding m […]