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What Is a 1099 Form? A 1099 Form is a kind of document that professionals use to file taxes related to non-salary income with the IRS. The core use of it is to report multiple types of non-employment income to the Internal Revenue Service (IRS). Businesses issue 1099 Forms to taxpayers who receive at least… Continue reading How to File 1099 Taxes? Learn to Issue 1099 to Contractor

What Is a Shipping Invoice? A shipping invoice, also known as a bill of lading, is one of the important shipping documents that covers the details of products that are shipped from one place to another. This is a legal document that every shipping company sends during the freight shipment of goods. It applies to… Continue reading What Is a Shipping Invoice? Why Is It Important for Your Business?

What Are Financial Projections? Financial projections are documents with financial statements that forecast the expenses and revenue the company will get in the future. It is based on the guessing & estimating concept that uses data on existing revenue and expenses. Thus, financial projections cover net income, cash inflows, expenditures, and overall the company’s financial… Continue reading What Are Financial Projections and How to Make For Your Business?

Remittance Definition Remittance refers to the money that is transferred back to an individual or business via check, cash, or online payment. Here, the word ‘remit’ means to send back (money) from one party to another. Suppose the customer transfers money to purchase the order from your shop; that’s remittance. Similarly, if you are working… Continue reading What Is a Remittance Advice | Definition, Example & Importance

What Is Billing Information? Billing information refers to data which make it effortless for a person to access customers’ accounts. The account can be either a debit card, a credit card, a savings account, or a checking account. The major role of billing information is during a financial transaction and when paying for goods or… Continue reading What Is Billing Information? Why Does It Matter for Businesses?

What Is an Invoice? An invoice is a document that vendors issue to the buyer to urge for payment against the purchase of a product or service. Invoice meaning in business is to streamline the billing process and keep a smooth cash flow. This invoice carries detailed information about the business, client, service, or product,… Continue reading How Do Invoices Work? Define Their Meaning and Purpose

What Should You Include in the Invoice? Whether you make a paper-based invoice or an online invoice, here are some necessary things that you must include on a sole trader invoice. 1. Invoice Date & Number Mention the date on which an invoice is issued, along with a unique invoice number for easy invoice tracking.… Continue reading How to Invoice as a Sole Trader Professionally

How to Invoice Clients – 9 Essential Tips Here are 9 beneficial tips to keep in mind while invoicing your clients and ultimately boosting your payment process. 1. Understand How Clients Want to Pay Before you start creating an invoice, you must know how your clients wish to complete the payment. Do they want to… Continue reading How to Invoice a Client: 9 Tips to Get Paid Instantly

What Is Prorated Billing? Prorated billing is a billing method that adjusts the price in order to match what actually has been used. As its name suggests, it allows businesses to prorate a bill so that customers can pay for services they have used and not for the entire billing period. Implementing prorated billing means… Continue reading What Do You Mean By Prorated Billing & How It Works?