Although these terms are often used interchangeably, they are fundamentally different. While residual income may be passive, passive income isn’t always residual. In personal finance, residual income is synonymous with monthly disposable income. It is the total income that remains after paying all monthly debts. Residual value is one of the most important aspects of…

In your accounting software, a checking account is your current bank account that you connect to the accounting system and use for money transfers and reconciliation. The money gets transferred from the customer’s Stripe account to yours and is kept there for some time. You can’t see them on your real bank account or manage…