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Why Clients Delay Payments? When you see late payments, you can’t immediately say this is a sign of a bad client. There are cases in which delays may stem from internal limitations or financial constraints. Some clients take invoices for granted, especially when the business relationship feels “friendly.” The payments slide down the priority list,… Continue reading Top 10 Most Common Late Payment Excuses & Their Solution

What Is an Average Web Designing Cost? The average web design cost range for a simple website is $1,000 to $3,000. This goes for an average or intermediate website design, costing $3,000 to $7,000. The highest cost is for advanced website design, which can range from $15,000 to $85,000 or more due to its complexity.… Continue reading How Much Do Web Designers Charge? A Web Design Pricing Guide

What is a Bad Debt Expense? Bad debt expense is the cost incurred by a business when it gives up collecting from a delinquent customer. If you sell an item on credit, the due amount is recorded in accounts receivable. Then, it’s the customer who is responsible for paying their dues, but somehow they keep… Continue reading How to Calculate Bad Debt Expenses (With Examples)

What is the Times Interest Earned Ratio? The times interest earned ratio, also known as the interest coverage ratio, is a metric that indicates a company’s ability to pay its interest obligations. It is part of the solvency ratios. It is determined by dividing the earnings before interest and taxes (EBIT) by the company’s total… Continue reading Times Interest Earned Ratio: Definition, Formula & Calculation

What is a Blanket Purchase Order? (Blanket PO Meaning) A blanket purchase order is also termed a standing purchase order. It is a financial document that serves as a long-term contract between the buyer and the supplier for the purchase of a specific set of goods or services over a defined period. In general, whenever… Continue reading Blanket Purchase Orders: Process, Benefits, and Challenges

What Is Accrued Revenue? Accrued revenue is an accounting term used when the company delivers the goods or services, but fails to receive the payments from its clients. It’s like they have earned the money following the completion of their job, but have yet to bill their clients. Sometimes they may have sent an invoice,… Continue reading What is Accrued Revenue? – Examples, Benefits & How to Record It

Landscaping Service List Meaning & Importance The landscaping service list is a detailed outline of all the services landscapers offer to their clients. Thus, it outlines the entire solution list that you provide as a professional landscaper. Additionally, it serves as a guide for customers, outlining what a landscaping business can provide to meet their… Continue reading What Are the Different Landscaping Services You Can Offer?

What Is a Thermal Printer for Invoicing? A thermal invoice printer is a specialized device that produces heat in order to print images or text on thermal paper. It is a printing technology marvel that replaces the traditional ink-based printers, reducing their overall maintenance cost. When connected with POS or invoicing software, these thermal printers… Continue reading How to Set Up a Thermal Receipt Printer With Your POS System

What Is Budgeting? Budgeting is a systematic process through which a business or organization plans its finances. Thus, it outlines how the organization, business, or individual earns and spends over a specific period of time. In short, it presents a clear structure of income and expenditure flow. This helps the business plan & control its… Continue reading Budgeting and Forecasting: Key Differences You Must Know