Notes payable generally refer to formal written agreements in which a company promises to repay a specific amount, often with interest, by a set date. These agreements may be short- or long-term depending on the maturity period outlined in the note. This type of note is often used for short-term borrowing when a business expects […]
All these records can be kept electronically (Oregon doesn’t require paper copies), but make sure they are securely stored and backed up. Many firms scan everything and use a practice management system or cloud storage to organize trust records by client and date. If there was any communication about how funds are to be handled,[…..]
