Category: Accounting

  • What are GAAP (Generally Accepted Accounting Principles)?

    GAAP is an acronym for Generally Accepted Accounting Principles (GAAP) which is a set of guidelines and standards for how businesses should account for their transactions.

  • Cloud Based Invoicing vs. Traditional Invoicing

    Every company needs to find its most efficient manner of invoicing. Many modern-day businesses are now using online services for this and many other business purposes. Traditional Invoicing There are several different options when it comes to traditional invoicing. A small company can create their invoices by hand and then use traditional mail services to […]

  • FDCPA Explained: How the Fair Debt Collection Practices Act affects you

    You may have heard and read about debt collection agencies. The agencies are tasked with collecting money from borrowers who haven’t paid their debts in time. It is not uncommon to hear of hundreds of consumers in the United States complaining of being harassed because they owe other people, or businesses, money. The Federal Trade […]

  • Understanding Discounted Cash Flow

    What is DCF? Discounted cash flow (DCF) is an analysis method that is used to value a company, project or asset. DCF applies the principles of time value of money and is helpful in estimating the attractiveness and viability of an investment. In this valuation method, the cost of capital is used in estimating and […]

  • Understanding receipts and why you need them

    Understanding the Receipt and Its Importance Every business has many different types of records that they will need to deal with when it comes to the financial accounting for their company. One of the groups of documents will be the receipts. 🤷‍♂️What is a Receipt? A receipt is a permanent record of a transaction concerning […]

  • When and how to issue pro forma Invoices

    How Does a Proforma Invoice Look Like? A proforma is a type of invoice that is classified as a binding contract between the seller and the buyer. It does allow for the option of changing the sales terms when necessary. Buyers can rely on the sales price shown on the proforma invoice as being accurate. […]

  • Commercial invoices versus other invoices

    What is a Commercial Invoice? A commercial invoice is a legal document used to track the movement of goods, especially where customs are involved. It is provided by the seller to the buyer to act as a customs document for clearing the products for export across international boundaries. A commercial invoice is not used as […]

  • What is an invoice?

    The Detailed Business Invoice Guide for Business Beginnners For those who are entering the business world as their own boss, it quite often means they are going to be the proud owner of a Company. This is a journey that can be most exciting and at times overwhelming, but one that can bring a great […]