In the process of doing business, sales invoices and purchase orders are two forms that are used in the clear understanding of transactions between two parties. In an organization with a sales department and a purchasing department, both these departments need to use one or both forms for internal and external purposes.  A purchase order […]

Introduction Efficient records management in any small business is paramount as it ensures healthy cash flow. The accounts receivables and payables management records have a unique significance in the business world. Let’s dive into detailed information about Accounts Payable and Receivable Management and their importance. What is Accounts Payable Management? Let’s first understand, what are […]

Introduction Choosing the right accounting software is a cornerstone for business success. But, a myriad of options available can make this a daunting task for entrepreneurs and financial managers. Wave, QuickBooks, and Invoicera are leading contenders, each offering unique features tailored to diverse business needs.  But how do you decide which is the perfect fit […]

Studies reveal that 78% of businesses credit their growth to adopting sophisticated accounting software. Source: Business News Daily Among the top software, FreshBooks, Xero, QuickBooks, and Invoicera stand out. FreshBooks offers user-friendly features, Xero boasts a robust cloud-based platform, QuickBooks is versatile for businesses of all sizes, and Invoicera excels in diverse invoicing capabilities. This […]

Accounting software has become the cornerstone for businesses to streamline operations, track finances, and ensure precision in every transaction. According to recent studies by Forbes Insights, 88% of businesses credit their growth to adopting advanced accounting software. For managing finances, there are many options available, but these three products stand out – NetSuite, QuickBooks, and […]

Starting out a new business venture? Catching up on a few business terms can help you become a Pro early! While starting out your own new business venture can be really exciting, it can be nerve-wrenching too at the same time. Unfamiliarity with new business terms can cause a hindrance in understanding and communicating with […]

Whether you are a finance student or have simply developed an interest to manage your accounts in business, it becomes crucial to understand the prepaid expenses and accrued expenses are the technical jargons that define the company’s Balance sheet. [All kinds of business expenses can be managed well with the Expense Management tool] It becomes […]

Discounts are an integral part of the entire sales and marketing process. There are two types of discounts in sales and marketing:- purchase discount and the sales discount. These discounts vary in terms of who receives them and why, but they’re also connected in such a way that intelligent marketers can use both to increase […]

Some daily business activities and transactions include common terminologies that might get a little confusing and bounce over your head. But, the initial confusion should not stop or hamper your work. Do not Worry! none of these terminologies are tricky as solutions in chemistry labs. Having a clear understanding of such business day to day […]

Purchasing is considered to be the most important activity for a large number of business owners. The effective purchasing function lets you decide on the specification of your product or service to gain consistent, reliable, clear communication on your purchase. The failure on it reduces costs and raise quality. The businesses can direct definite strategies […]

Every B2B purchase transaction begins with a Purchase Order. In general, Purchase Orders tend to be standard for a business organization across its various business transactions. Computerization and IT has made Purchase Order creation a simple task as there is a host of software that can generate different types of Purchase Orders and in formats […]

To a layperson, there seems to be no difference between invoice and receipt. For any business owner the two terms i:e invoice and receipt can be a vast difference. The invoice and receipts are the business documents distinguished when both buyer and seller of services are involved in a transaction. Though both are the legal […]