📌 Key Takeaways Freelancers and sole proprietors can generate invoices even if they don’t have a business structure or registered company. An invoice should cover business details, client details, line items, total amount, payment terms, and signature. Freelancers or sole proprietors can streamline their administrative tasks using invoicing software. Professional invoices help leave an impressive… Continue reading How to Make an Invoice Without a Company? Your Complete Guide

Key Takeaways T&E refers to Travel & Expense or Travel & Entertainment (client entertainment costs) Some T&E are tax-deductible Meal expenses are 50% deductible under IRS guidelines Invoice and receipts are supporting documents to monitor T and E expenses Companies can easily do cost optimization What Is a T&E Expense? T&E stands for Travel &… Continue reading What Is T&E Expense & What Is Its Importance?

What Is a Retainer? A retainer is an advance payment made by your clients before the start of the new project. Clients dispatch the payment to reserve the service provider’s availability for their project work. As the name suggests, the client retains the provider for a future project by paying an upfront amount before they… Continue reading What is a Retainer Invoice? – Key Things to Know Before You Issue One

What are Duplicate Payments? Duplicate payments refer to multiple payments that have been processed accidentally two or more times by the business’s accounts payable department. They are considered overpayments that were unintentionally made for the same invoice or bill. Duplicate payments can result from transferring the same amount mistakenly to another bank account via electronic… Continue reading What are Duplicate Payments & How to Prevent Them

Key Takeaways Starting a nonprofit involves a clear, step-by-step process, from initial research to promoting your cause. Thorough planning, covering your mission, target audience, and a detailed business plan, is crucial for success. Understanding the legal and financial aspects, including registration and revenue generation, is essential for compliance and sustainability. Leveraging the right tools and… Continue reading How to Start a Nonprofit? Launch Your Successful Business

Key Takeaways: A Goods Received Note (GRN) plays a vital role in verifying received goods against purchase orders. It also prevents errors in inventory and financial records. GRNs help businesses detect mismatches in quantity and quality. They ensure swift corrective action and improve supplier accountability. The finance and accounts departments rely on GRNs to validate… Continue reading A Complete Guide to Goods Received Note (GRN)

Key Takeaways Traditional invoicing and human errors are common causes of double invoicing. Technical issues can also cause double invoicing. Most duplicate invoices are intentional. Double invoicing can result in excessive payment, a bad company reputation, and other financial losses. Invoice automation can greatly reduce the risk of duplicate invoices. Manual or automated concepts can… Continue reading What Is a Duplicate Invoice? A Guide to Double Invoicing

Key Takeaways: The company’s guideline showcasing how employees can submit reimbursement claims and within what time is considered as an expense policy. For improved transparency, fraud claim prevention, and budget forecasting, you need an expense policy. Drafting an employee-focused policy, updating it regularly, and using expense management software are some expense policy best practices. Businesses… Continue reading Your Handy Guide to Expense Policy: Definition, Importance, & Best Practices

Why Should You Estimate the Photography Jobs? Accurately estimating photography jobs is not just about setting a price; it’s a foundational aspect of running a sustainable and professional photography business. There are several key reasons why estimating is crucial for both the photographer and the client. Here are the main benefits: Avoid Undercharging or Overcharging… Continue reading How to Estimate Photography Jobs Like a Pro?