Though invoices are a very well-known tool commonly used by all businesses, they are often regarded as simply a process to be paid. It is essential to ask the question of “what is an invoice”, especially as a smaller business in order to best use the tools at hand. With that in mind, this guide …
Becoming a limited company can be a difficult yet developmental change. It’s also common for individuals to have no knowledge of setting one up. What exactly is the process of setting up a limited company, and why do sole traders choose to do this? The process of starting a limited company The initial choices The …
Small businesses often strive for a high-profit margin, but what does this mean? What exactly is a profit margin and how is measuring it useful? What is a profit margin? A profit margin is the total difference between how much a business makes and the expenditures of said business. For a sole trader, this can …
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Fixed costs are a counterpart to variable costs, and are extremely useful when running a business. Knowing in full about the usage and definition of fixed costs is how effective budgeting is done. That being said, how exactly do you define fixed costs, and how do you use them? Defining fixed costs Fixed costs are …
Variable costs are a consistent worry for businesses of all sizes. What exactly are variable costs, however, and why is it a good idea to keep track of them? How to define variable costs A variable cost is defined as one that rises and falls with the production volume of the company. It can include …
Outbound marketing is a less common yet useful tool in the world of traffic generation. It is often discounted due to inbound marketing being a more broad and, more importantly, automatic approach. This begs the following questions: What is outbound marketing, what are the benefits, and what methods come under outbound marketing? What is outbound …
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Interim invoices are a specialised type of invoice used for long projects. How exactly do these invoices differ from recurring invoices, and what benefit is there to using them? What is it and how does it differ from recurring invoices? An interim invoice can be used to pay for segments of work as they are …
Final invoices are the most commonly used type of invoice. Why exactly is this the case, and are there any disbenefits to making extensive usage of final invoicing? Why use it? It looks professional Final invoicing is considered the professional way to invoice by many industry experts. The main reason for this is that a …
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As a small business or sole trader, it’s easy to forget the opportunities that are available. By taking advantage of these opportunities, your business can grow and flourish. You can use invoices to market to clients who have already shown they can pay. With that in mind, here’s a guide on how to do so …
When invoicing, it’s often appropriate to have payment terms that let the client or customer know when to pay. These are usually “net” terms which translate to the number of days until payment is due, from the end of the month. However, cash on delivery or due on receipt requires instant payment. How do these …
When Should You Use Instant Payment Terms: Simple Guide Read More »
