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A certified public accountant and certified financial manager, Codjia received a Master of Business Administration from Rutgers University, majoring in investment analysis and financial management.

This way, you don’t have to worry about getting charged with penalties for being late in making your payments.

If you record it prior to this point, you run the risk of spending money you do not have and ending up in the red.

This can be especially risky if the payer backs out or defaults on the contract.

Or getting inconvenienced by having to physically or manually submit your payments on the day they fall due.

This is especially useful if you have recurring bills to pay on a specific date monthly or quarterly or any regular period.