A business estimate is a document that describes how much you intend to charge a customer for a product or service. It assists you in outlining the scope of a project and how much it will cost you. The final bill may be more or lower than the predicted sum. You can send estimates to …
How And When To Send Estimates: An Entrepreneurs Complete Guide To Estimates Read More »
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 …
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 …
Why Are Final Invoices Considered Professional Industry Standard Read More »
ACH transaction fees are electronic transfers between banks over the Automated Clearing House network. Examples of ACH transfers are; External cash transfers Person-to-person payments Bill payments Direct deposits from companies and government benefit programmes (better known as business-to-business payments) Many transfer providers, including banks, Zelle, and third-party apps like PayPal and Venmo, use the ACH …
ACH Payments And ACH Transaction Fees: What Are They And who they Can Be Useful For Read More »
The HMRC Construction Industry Scheme (CIS) determines how: Subcontractors in the construction industry should be paid Construction workers should invoice and account for value-added tax (VAT) Contractors either deduct then transfer: 20% of a registered subcontractor’s payment to HMRC 30% of an unregistered subcontractor’s payment to HMRC How does the Construction Industry Scheme work? If …
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Invoice approval processes should be a quick and painless procedure done by an Accounts Payable department. In this digital age, wasting time, resources, and people with a paper-based, manual invoice approval process slows cash flow, jeopardises competitiveness. To mitigate this, many businesses are adopting invoice approval process automation. When not all billing operations are automated, …
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Miscellaneous / By Kyra McKay Invoice discounting is where a company’s unpaid invoices serve as collateral for a loan. Businesses can enhance the value of their sales ledger by using invoice discounting providers. You can also access the money in your accounts receivable ledger – unpaid client invoices – much faster. Instead of waiting for …
Is invoice discounting right for your business?: Everything you need to know Read More »
Invoice factoring is a method for businesses to support their cash flow by selling their invoices at a discount to a third party (a factoring company). Invoice factoring can be done by either independent financial companies or by banks. It is also known as Debt factoring; Invoice finance; Asset-based lending. Factoring is a rising source …
Invoice finance ultimate guide: Is Invoice Factoring right for you? Read More »
