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What Is a Bulk Payment? A bulk payment refers to a financial transaction in which multiple payments are made simultaneously to different recipients at the same time. It is also useful to pay multiple vendor invoices simultaneously. Thus, it eliminates the individual transaction approach, leading to a smoother transaction/payment process. Other names for bulk payments… Continue reading What Is a Bulk Payment? Meaning, Advantages & Challenges

What is Marginal Cost? Marginal cost refers to the ups and downs in the extra cost incurred due to the production of one more unit. It is also known as incremental cost because of the additional unit produced, which further impacts the total production cost. Suppose your business is manufacturing 50 units of your product… Continue reading What is Marginal Cost? – Example, Calculations & Formula

Types of Clothing Business As you plan to launch your clothing brand, you must understand the difference between business models in the clothing industry. Each type of clothing business has its own workflow, customer base, and investment needs. There are mainly 5 types of clothing businesses. Let’s understand it one by one: 1. Retail Clothing… Continue reading How to Start a Clothing Brand? Steps and Common Mistakes

What is Invoice OCR? OCR invoice processing refers to a technology, Optical Character Recognition, which automatically extracts data from photocopies or digital invoices. Here, you don’t need to fill in the details of each invoice, such as invoice number, date, vendor name, vendor email, items, or total amount. With the use of optical character recognition… Continue reading OCR Invoice Processing: Everything You Need to Know!

What Is a Time Sheet? A timesheet or time sheet is a modern tool to evaluate how much time your employees spend completing the given assignment. You would know how paper sheets were used back in the 19th century to manage everyday tasks and employee hours. Fast forward to the present day, and you will… Continue reading What Is a Timesheet – Explained with Benefits & Use Cases

What are ChatGPT Prompts? ChatGPT prompts are instructions given to the AI model in a way that it should respond back to users and clear their doubts. Contractors use prompts to start a conversation with a chatbot and obtain a proper answer for their queries. Let us take an example and see how a ChatGPT… Continue reading 25+ ChatGPT Prompts for Contractors to Make a Payment Receipt

Standard Cost of Home Renovation Home renovation refers to upgrading the current condition of the house. It involves minor repairs, wall paint, design upgrades, or other interior updates. The average cost to renovate a house ranges from $15,000 to $250,000. The homeowners typically spend between $15 and $60 per square foot. The cost varies according… Continue reading How Much Does It Cost to Renovate a Home? Renovation Quote

What Is a Stripe Chargeback? A chargeback is a process of reversing funds from the recipient’s account due to the payer’s dissatisfaction over charges on their card. Similarly, a Stripe chargeback is the result of a customer’s dispute, which further allows the bank to direct Stripe to pull the money back from the merchant’s account.… Continue reading Stripe Disputes: How to Win As a Merchant

How Much Is the Usual Cost to Build a Hospital? The average cost to build a hospital ranges from $450 to $1,000 per square foot. The cost is determined based on various factors, including location, material costs, and labor costs. The estimate also depends on the type of hospital and the services it offers. These… Continue reading How Much Does it Cost to Build a Hospital? An Estimate Guide