What are Debits? To begin, we will discuss debit, which is an accounting entry that increases an asset or cost account or decreases a liability or equity account. While credit is an accounting item that enhances an equity or liability account, you will find it to the left when it is included in an accounting… Continue reading What are Debits and Credits in Accounting?

Stripe Vs. PayPal: An Overview Two major participants in the online payment processing market, Stripe, and PayPal, provide both businesses and consumers with reliable options for receiving payments online. Although both Stripe and Paypal offer benefits, organizations usually have to choose one depending on their own requirements and preferences. Due to its focus on customization… Continue reading The Ultimate Solution for Your Business: Stripe Vs. PayPal

What is PayPal? PayPal is an application that allows for the secure online transmission of money. You may link your PayPal account to your bank account by providing your financial details. PayPal automatically deducts the purchase price from the bank account you choose. Money sent to your PayPal account from others is held there until… Continue reading How to Accept Money on Paypal?

What is a Small Business Tax Audit? A small business tax audit formally examines the firm’s financial records and tax returns by a tax authority, such as the Internal Revenue Service (IRS) or state/local tax agency. A tax audit aims to ensure that the business has accurately reported its income, deductions, and other financial information… Continue reading Small Business Tax Audits Unveiled: The Most Detailed Guide for Businesses

ACH Transfer ACH (automated clearing house) transfer is an electronic system that facilitates direct deposits, bill payments, and B2B transactions. ACH transfers involve multiple stages, including initiation, authorization, processing, and clearing/settlement. The sender provides their banking and recipient’s information to their financial institution. The payment request is transmitted to the ACH network after authorization, which… Continue reading ACH vs. Wire Transfer: Navigating the Path to Seamless Payments

Types of Credit Cards Payments 1. Dipped Transactions EMV (Europay, Mastercard, and Visa) is a type of credit card transaction. Here, the card is placed into the reader. The chip verifies the transaction by interacting with the terminal. Later on, the chip creates a unique code for each payment. This is a standard type of… Continue reading How to Accept Credit Card Payments? Unlock the Process

Why is it Important for Online Payments to be Secure? Sensitive consumer information, including credit card numbers, personal details, and financial data, must be transferred while making an online purchase. Cybercriminals may find this information useful and exploit it for various illegal actions, such as credit card fraud, identity theft, and unauthorized access to bank… Continue reading 10 Best Practices for Online Payment Security: Protect Your Customers and Your Business

Choose Your Method of Taxation Once the tax season rolls in, you might want to file for your LLC’s taxes. But here, IRS likes to throw some curve balls in the process. You cant file for taxes as IRS does not recognize LLC as a taxable entity. Bummer, you still need to pay your owed… Continue reading How to File Taxes for an LLC in the U.S.? The Ultimate Guide

What is a Quote? A quote is a document specifying an agreement between a customer and a service firm to provide a service at a fixed price and within a particular period. It could be a price quotation, sale quote, service quote, or any other quote. A quote is crafted to meet the requirements of… Continue reading Winning the Bid: How To Create a Quote for Job?