What Is a Receipt? A receipt is a document that acknowledges a customer regarding his payment and represents that the seller received the payment successfully. Customer receipt slips can be either for goods or services purchased. A professional receipt covers the following details: Receipt number and date Customer Name along with contact details Brief details… Continue reading How to Print Receipts? Best Practices You Must Know

What is a Wire Transfer? A wire transfer is a process of transferring funds to another bank account electronically, eliminating the need to conduct physical meetings. Wire transfers are mainly used for international rather than domestic fund transfers. Financial institutions use the SWIFT network to initiate transactions to move money from one account to another… Continue reading Wire Transfer vs Bank Transfer: Which One is Better?

What Is a VAT Number? The VAT number, known as the VAT registration number (VRN) or VAT identification number, is a unique number that businesses obtain from HMRC at the time of VAT registration processing. This number identifies the taxable person or the company. VAT numbers are issued by the tax authorities of each EU… Continue reading What Is a VAT Number? Everything You Need to Know

What are Reimbursable Expenses? Reimbursable expenses refer to the costs required to perform business operations and are incurred by the business on behalf of someone else. Generally, such costs are incurred when a company’s employees purchase goods or services with money straight out of their pocket. Employees can later claim the money back as expense… Continue reading A Guide to Reimbursable Expenses: Definition, Types & Examples

What Is Accounts Payable? Accounts payable is the amount of money you owe to suppliers or vendors for purchasing products or services, and it is recorded as a current liability. In simple terms, it tracks the funds a business owner is liable to pay when transacting with suppliers or vendors. Essentially, it represents outgoing cash… Continue reading Accounts Payable Vs Accounts Receivable: Differences Explained with Examples

What Is an EDI Payment? EDI stands for Electronic Data Interchange. EDI Payments refer to a system that transfers transaction-related documents in a standardized electronic format. These documents can be Purchase Orders, invoices, receipts, bills, etc. Basically, EDI payment itself is not a payment, instead, it reflects a financial document in the form of Electronic… Continue reading What Is an EDI Payment? Difference Between EDI, ACH, and EFT

How We Evaluated These Construction Apps for You Our team of industry experts took a deep dive into the everyday challenges of construction businesses. We made a tremendous effort to find apps that align with the requirements of construction professionals. Our thorough research on discovering the best apps also includes tried-and-tested assessments to see if… Continue reading 12 Top Construction Apps for Contractors & Their Benefits

How Much Time Does PayPal Take to Refund? PayPal is a payment process and it doesn’t start with a refund. It’s the seller who initiates the process and makes a refund on time. So, when you think about how long a PayPal refund takes, don’t forget to consider the seller. Moving further, people need to… Continue reading PayPal Refund Time – How Long Does It Take?

What Does a Partial Payment Mean? Partial payment refers to payment in terms of parts of the total due amount. This simply means the client pays a small part rather than giving a full payment. It is also referred to as a down payment, an installment payment, or a part payment. Partial billing is a… Continue reading How to Create an Invoice with Partial Payment Request?