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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?

What Is a Sales Order? A sales order refers to a document that guarantees the customer’s order. It is usually made by a business owner to initiate the delivery of goods or services. Sales orders are generated only after the customer expresses the desire to purchase the produce and accepts the estimated delivery time. A… Continue reading Sales Order Vs Invoice: How Sales Order Differs From Invoice

What Does Invoice Payment Mean? Invoice payment is defined as the amount of money that the client pays to the business for all the products and services rendered. It plays a significant role in maintaining a good client-vendor relationship. Managing this process helps in detecting issues like payment delays. What Are the Common Methods of… Continue reading What Is Invoice Payment? How to Make Timely Invoice Payments