Key Takeaways: There are 13 core accounting principles (like accrual, matching, and revenue recognition) that help keep financial reporting accurate, consistent, and fair — these are often referred to as GAAP. Using accounting software that follows these principles can make your life easier, especially for small businesses that need to stay compliant and keep records… Continue reading What are the 13 Fundamental Principles of Financial Accounting?

9 Best Invoice Software for Mac This listed business software for Mac is undoubtedly the best for managing your invoices and estimates from anywhere, anytime. We have also mentioned the pros, cons, and pricing for helping you pick the best mac invoice software.  1. Moon Invoice Moon Invoice is your perfect invoicing partner and best… Continue reading Which are the 9 Best Invoicing Software for Mac?

What Do You Mean By Due Upon Receipt? Due upon Receipt refers to the process of collecting the payment as soon as the invoice is shared. Unlike long payment terms, due upon receipt informs customers to pay instantly instead of paying the money anytime between 15-30 days (as per standard terms). This receipt invoicing approach… Continue reading What is Due Upon Receipt and Can it Help You Get Paid on Time?

What is a Pro forma Invoice? A proforma invoice is a preliminary bill or estimated invoice sent by a seller to a buyer before the actual sale takes place. It provides detailed information about the goods or services being offered, including their price, quantity, and other relevant terms. However, unlike a commercial invoice, a proforma… Continue reading Proforma Invoice vs Commercial Invoice: Everything You Should Know!