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What is a Voucher? A voucher is a written record that confirms the precision of the transaction’s accounting and the passing accounting entries made in the account books. It falls under the category of redeemable transaction bonds that have specific uses. Businesses create a voucher once they have a supplier’s invoice in hand. A cheque… Continue reading Voucher vs. Invoice: Comparison Explained for Small Businesses

What is a Deposit Invoice? A deposit invoice includes the basic details from an invoice such as the breakdown of the services provided, names and addresses of the company and the client, and the total amount of the deposit. Once the job is finished, a final invoice with the full amount will be generated. The… Continue reading Understanding Deposit Invoice for Businesses

What is a Factoring Fee? Invoices are purchased by factoring companies before they are due, and the discount they obtain is called a “factoring fee.” The cost of factoring is determined by multiplying the factoring rate by either the amount advanced or the total invoice amount, according to the agreed-upon rate structure by the parties.… Continue reading Complete Guide On Invoice Factoring Rate

What is a Payment Processor? Payment processors are used by retailers to manage customer transactions through various channels, including credit cards, debit cards, and bank accounts. Payment processors are a type of technology that makes financial transactions easier. As a type of intermediary between the bank account and the store, it is a company that… Continue reading Payment Processing Vs. Payment Gateway: Which is Best for your Business?

What is Electronic Payment? E-payments or Electronic payments are digital or electronic means of transferring money from one party to another. This is done without the need for cheques or cash. There are many different types of e-payment, including credit and debit cards, mobile wallets, UPI, internet and mobile banking, and many others. Cryptocurrency and… Continue reading How do Businesses Benefit from Electronic Payment Systems?

What is a POS Terminal? A point of sale POS terminal is the hardware that allows businesses to receive payments to finalise a customer’s transaction. One such instance is cash registers. However, a POS terminal may be anything from a mobile with a plugged-in card machine to a tabletop terminal that prints receipts, scans bar… Continue reading Point of Sales Terminals: Types, Benefits, & Differences

What is Project Estimation? It is the procedure of estimating a project’s timeframe, budget, and resources. It takes into account the project’s scope, deadlines, and potential risks and typically takes place during project planning or project initiation. Clients are informed about project completion costs and timeframe through project estimating methods. The project manager must convey… Continue reading How to Estimate Time for a project? A Complete Guide

What is a Construction Estimate? A construction estimate is a forecast of the cost required to complete a project. It includes all costs such as materials, labor, equipment, subcontractor charges, and other project-related expense management costs. With estimates, both the project owner and the contractor gain clarity on the budget cap before work begins. Construction… Continue reading 5 Types of Construction Estimates You Must Know!

What are Freelancer Tax Deductions? You are an independent contractor and own your own business if you freelance. The state is likely familiar with the possible expenses linked to operating a corporation. You are therefore permitted to write off a portion of your expenses as company expenses. Taxpayers are permitted to write off required and… Continue reading Freelance Tax Deductions you can Avail To Save Business Expenses