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[Music] hey its scott owen of cruise consulting and today im going over how to account for convertible note investment and convertible notes are one of the you know most popular investing instruments for startups its preferred equity common equity safe notes and converts and you know safe notes are relatively new convertible debt was really the angel investment instrument of choice for many many years and still has we still see a lot of that activity um now just remember convertible notes are debt um so they do need to be paid back eventually most convertible notes have you know something like a 12 to 24 month time frame where theyre basically outstanding until then and oftentimes investors will just sign an extension or or restructure the control nets because they kind of know that like startup funding can ebb and flow and sometimes it takes longer to raise around so theres usually some flexibility with that but there is a payment date usually with controlled debt that is one re