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What is a Statement? A customer’s or client’s statement is a snapshot in time that reflects the financial status of their account at that moment. It is published at regular intervals, often once a month. In most cases, the purpose of a statement is to explain some aspect of a transaction or to bring attention… Continue reading Statement Vs Invoice: Differences and Similarities

What Is E-invoicing? E-invoicing (or electronic invoicing) is a process to bill your customer in an electronic format of an invoice, which can be shared electronically on any smart device. Sending an E-invoice to the buyer is the issuer’s bid to organize accounts payable invoices efficiently and tackle late payments. So, it’s not like you… Continue reading What is an Electronic Invoice and How Can It Benefit Your Business?

Types of Consulting Invoices As a consultant, the way you bill your clients can vary depending on your service model, project length, and client expectations. Understanding the different types of consulting invoices helps you bill more accurately and transparently. Here are the most common types: 1. Hourly Invoice    Ideal for time-based projects where you track… Continue reading How to Invoice as a Consultant? A Step-by-Step Guide

What are Integrated Payment Systems? Even if you don’t know the term “integrated payment solution”, it’s likely that you have seen or used them somewhere. Integrated payment systems accept payments with more than just debit and credit card payments. They can help you accomplish significant business objectives effortlessly, from managing customer expectations to analyzing your… Continue reading How can Integrated Payment Solution Boost your Business: Top 7 Benefits

What Is an Expense Report? An expense report is a document, either hard copy or digital, that provides a list of all business expenses during a specific period. These expenditures could be related to business travel, meals, office supplies, or any necessary costs required to run your core activities. A monthly expense reports offer a… Continue reading Expense Report: How to Create It in Less Time

What is a Flat Rate? Flat rate pricing involves deciding on a price for a job up front and sticking to it. It factors in the cost of labor, supplies, and any additional fees. Payment in this manner is the norm for short-term endeavors. Suppose you and the client agree, for instance, that you will… Continue reading Flat Rate Pay V/s Hourly Rate Pay: Definition and Calculation

What is a Supplier Invoice? Bills and invoices for goods and services are known as “supplier invoices” and are sent by the providing vendor to the purchasing client. Vendor invoices are another term for supplier invoices used by buyers. A supplier invoice breaks out the costs associated with a purchase. Invoices often include payment conditions… Continue reading What is a Supplier Invoice? Examples and Reasons to Automate It

What Does Non Deductible Mean? Non-deductible refers to the expenses that businesses can not deduct from their income while filing taxes. With non-deductible expenses, you can’t lower your taxable income and will have to pay full taxes. Some business expenses might be unavoidable in your routine life, but that doesn’t mean they have to qualify… Continue reading 20+ Non-Deductible Expenses That You Should Know

What is Invoice Reconciliation? Invoice reconciliation is the process of ensuring numerical accuracy and consistency between two data sets. It means confirming that the general ledger’s accounts are accurate, precise, and complete. Notably, reconciliation isn’t just limited to professional life; it can also be applied to legal matters and other areas of life. Invoice reconciliation… Continue reading What is Invoice Reconciliation? Types, Importance, and Tips