What Is the Incidental Expense? Incidental expenses are the miscellaneous expenditures that business people usually bear during business trips or activities. Usually, these expenses are unplanned and are not covered by the main budget schedule. Also, these expenses are small compared to other business expenses. The following things are considered as part of incidental expenses:… Continue reading What Are Incidental Expenses and Why Do They Matter a Lot?

What is Purchase Order Management? Purchase order management refers to generating and tracking the purchase order process until its fulfillment. Efficiently managing purchase orders helps you track POs while keeping accurate financial records. It plays a crucial role in your procurement process by ensuring suppliers are notified as soon as an order is placed and… Continue reading A Guide to Purchase Order Management for Small Businesses

What Is an Invoice Element? Invoice elements are individual parts or fields that combine to make a complete invoice. The elements represent essential information about the deal, including a brief description of services rendered, a breakdown of costs, and client details. Additionally, invoice elements give a professional look to an invoice, making it clear and… Continue reading What Are the Elements of an Invoice? Things You Must Include

What Is OpenOffice? OpenOffice is an open-source software by Apache Software Foundation that offers various productivity tools. This word processing software is an alternative solution to Microsoft Office, and many professionals prefer this over MS Office. Its other name is OpenOffice Writer. However, there is no compromise with the tools. OpenOffice also offers many integrated… Continue reading How to Make an Invoice in OpenOffice? Step By Step Guide

W9 VS 1099: What is a W9? W9, a single-page IRS form, is a request for collecting a Taxpayer Identification Number (TIN) or Social Security Number (SSN) from employees. Freelancers or contractors are responsible for filling in the required details and sending the form to the employer. Remember, the W9 form is not directly handed… Continue reading W9 Vs 1099: Know What’s the Difference Between W9 and 1099

What Are PayPal Payments? PayPal payments refer to digital payments transferred or received through the PayPal system. In simple terms, a user sending or receiving money through electronic mode using a PayPal account is known as PayPal Payments. Millions of people adopt PayPal for their daily transactions. Regardless of business size, this payment system is… Continue reading How to Cancel PayPal Payment? Get to Know the Right Way

What Is Usage-based Billing? Usage-based billing is a pricing model in which the customer pays according to the consumption of the service or product. It is also known as meter billing, where the customer pays according to the meter reading that represents the amount of service consumed. This enhances transparency while avoiding overpayment. Usage-Based Pricing… Continue reading What Is Usage Based Billing? Unlock Its Meaning and Working

How to Create First Hourly Work Invoice Creating an hourly invoice is easier said than done. You need to add every work you have completed within an hour along with their rates. So, you must create an invoice in such a way that it should be easier for clients to know what you are charging… Continue reading How to Make an Invoice for Hours Worked: A Guide for Freelancers

What Is Expense Analysis? Expense analysis is a process of examining all the expenditures associated with your business. It includes salaries given to employees, rent, and marketing expenses in a detailed breakdown scenario. With detailed insight, it’s simple for business professionals to justify whether the expenditures are worthy or not. We understand the meaning more… Continue reading What Is Expense Analysis? Explore Its Types and Significance