What Does Business Expense Mean? Business expenses are the everyday costs your company incurs to operate and generate revenue. These can range from rent, salaries, and office supplies to marketing, software, and travel. Essentially, if you spend money to run or grow your business, it likely qualifies as a business expense. Tracking these business expenses… Continue reading 35 Essential Categories for Business Expenses You Must Consider

📌 Key Takeaways Accounts payable metrics offer clear visibility into your business’s financial health as they uncover the areas of concern. Processing cost per invoice, time for payment processing, and invoices processed per FTE are key accounts payable metrics among the 11 important ones. Setting benchmarks, assessing improvement areas, and embracing automation tools are ways… Continue reading Accounts Payable Metrics 101: What are the Top AP Metrics You Should Track?

📌 Key Takeaways Freelancers and sole proprietors can generate invoices even if they don’t have a business structure or registered company. An invoice should cover business details, client details, line items, total amount, payment terms, and signature. Freelancers or sole proprietors can streamline their administrative tasks using invoicing software. Professional invoices help leave an impressive… Continue reading How to Make an Invoice Without a Company? Your Complete Guide

Key Takeaways T&E refers to Travel & Expense or Travel & Entertainment (client entertainment costs) Some T&E are tax-deductible Meal expenses are 50% deductible under IRS guidelines Invoice and receipts are supporting documents to monitor T and E expenses Companies can easily do cost optimization What Is a T&E Expense? T&E stands for Travel &… Continue reading What Is T&E Expense & What Is Its Importance?

What Is a Retainer? A retainer is an advance payment made by your clients before the start of the new project. Clients dispatch the payment to reserve the service provider’s availability for their project work. As the name suggests, the client retains the provider for a future project by paying an upfront amount before they… Continue reading What is a Retainer Invoice? – Key Things to Know Before You Issue One

Key Takeaways Duplicate payments are accidentally sent money twice for the same invoice or bill. If not addressed, they may disrupt your cash flows. Manual data entries, system malfunctions, and communication gaps can lead to duplicate payments. Increased visibility in invoices, online payments, and the use of an automation tool like Moon Invoice are effective… Continue reading What are Duplicate Payments & How to Prevent Them

Key Takeaways Starting a nonprofit involves a clear, step-by-step process, from initial research to promoting your cause. Thorough planning, covering your mission, target audience, and a detailed business plan, is crucial for success. Understanding the legal and financial aspects, including registration and revenue generation, is essential for compliance and sustainability. Leveraging the right tools and… Continue reading How to Start a Nonprofit? Launch Your Successful Business

Key Takeaways: A Goods Received Note (GRN) plays a vital role in verifying received goods against purchase orders. It also prevents errors in inventory and financial records. GRNs help businesses detect mismatches in quantity and quality. They ensure swift corrective action and improve supplier accountability. The finance and accounts departments rely on GRNs to validate… Continue reading A Complete Guide to Goods Received Note (GRN)

Key Takeaways Traditional invoicing and human errors are common causes of double invoicing. Technical issues can also cause double invoicing. Most duplicate invoices are intentional. Double invoicing can result in excessive payment, a bad company reputation, and other financial losses. Invoice automation can greatly reduce the risk of duplicate invoices. Manual or automated concepts can… Continue reading What Is a Duplicate Invoice? A Guide to Double Invoicing