What Is a Prepayment Invoice? A prepayment invoice (also known as a prepaid invoice) is an invoice type that enables a business to accept advance payments from its customers. The prepayment is sent out prior to the final invoice. It enables you to realize your funds partially or fully before the settlement date. This invoice… Continue reading What Is a Prepayment Invoice and How to Create it?

What is Net 90? Net 90 indicates the deadline to complete the payment for an invoice you received from the supplier or vendor. Net 90 refers to an invoice that should be paid within 90 days to avoid late payment fees. While it is the most used payment term, you may also see businesses specifying… Continue reading Net 90 Payment Terms: A Practical Guide for Business Owners

What is Net 60? Net 60 payment terms refer to the period of 60 days in which your invoice will be due. It is a long payment term that indicates 60 days in which customers should clear their pending dues. Anything after 60 days will result in late payment fees that will be added to… Continue reading Net 60 Payment Terms: Meaning, Pros & Cons Explained

How to Start a Flooring Business Becoming a floor remodeling contractor might be easy, but starting a flooring business is a whole new challenge. Here’s a breakdown of what it takes to get started. 1. Creating a Business Plan Whether you are starting a full-time flooring business or ready to work as a part-timer, without… Continue reading How to Start a Flooring Business – 12 Key Considerations for Flooring Contractors

What Is An Expense Receipt? An expense receipt is a kind of document that represents proof of the payment done for the purchase of goods or services associated with business expenses. It includes the following details: Date of receipt Customer details Business details Description of the purchase Cost of items Total paid amount This expense… Continue reading What Is an Expense Receipt? Why Is It So Important?

What are Different Estimating Methods? When it comes to the estimating process, there are three methods – 1. Unit Cost Estimating Electrical contractors break down the project into units of work to price the work individually. 2. Assemblies Estimating In this method, you need to consider the estimated cost of all the assembled products, no… Continue reading How to Estimate an Electrical Job? A Comprehensive Guide

What Is an Itemized Receipt? An itemized receipt is a detailed document from a seller to a buyer. It lists each item or service purchased, including names and prices. Unlike a simple receipt, it provides a breakdown of the total cost. Instead of only a total amount with few details, it covers all detailed information.… Continue reading What Is an Itemized Receipt? Why Does It Matter a Lot?

What Is a Khatabook? Khatabook is an Indian-based billing software that provides the best accounting solution for small businesses. Indian Business professionals can perform various actions to manage their business accounting efficiently. Overall, it enhances on-time payment and tracking of daily transactions. Key Features of Khatabook Supporting 11 local languages (English, Hindi, Hinglish, Tamil, Bangla,… Continue reading Khatabook vs Vyapar vs Moon Invoice – Which One is Better for Your Business?

What is a Construction Estimator? An individual responsible for analyzing material costs, labor costs, and equipment costs to identify an estimated project cost is known as a construction estimator. Basically, they are the ones who prepare a bid considering the project timeline, overall cost, and profit margin. A construction estimator must possess strong analytical skills… Continue reading How to Become a Construction Estimator – Key Steps, Responsibilities & Skills