Running a business
What is an Estimate? – Simple Definition
Estimate is a financial statement approximation of the amount to be either credited or debited for items that cannot be clearly measured.
The purpose of accounting estimates is financial statement accuracy improvement. Analysts' decisions are based on those financial statements and accountants' duty is to generate them as precisely as possible even if the monetary value is unknown.
In order for estimates to be effective, the basis, on which the accountant estimates numbers, needs to be reliable:
Maрго Овсієнко
What is a Bill? – Simple Definition
A bill is a payment request for goods or services which were received. It contains a list of services or items and the due date.
Bills and invoices are often used interchangeably and there is no difference in the results they produce. Invoices are commercial documents which contain more information (e.g. seller's and buyer's address, method of payment) than bills.
The use of these documents is determined by circumstances. Issuing bills is a common practice in restaurants, credit card companies, utilities and other service providers.
What Proforma Invoice – Simple Definition
Find out what a proforma invoice is and how to create one with just a few clicks.
InvoiceOcean
What is Receipt? Simple Definition
Read this simple definition of a receipt and learn how you can create one in under 30 seconds.
What is an Invoice? Simple Definition
Invoice is the primary sales document, containing detailed information regarding completed transaction. It is the most popular accounting document. Properly issued invoice contains the following information:
Prepayment Invoice: What is It and How to Create One?
Wondering what prepayment invoices are and how to create one? Learn what makes them different and how you can easily create a prepayment invoice and automatically associate it with a final invoice – the right way you should do it in accounting.
What is a Credit Note? – a Quick Guide for Dummies
Credit note - read the simplest definition. Explained in simple words. Issue a credit note in 30 seconds.
What is a European Invoice and When Should You Use One?
If any of your clients operate within the European Union, you are obliged to issue a European invoice. Such an invoice is not significantly different from the traditional, however, you need to remember to enter relevant additional details:
4 ways to speed up the payment process in your company
Execution and management of payments are the key aspects of every company’s daily life. Their ease and quickness have an impact on the financial condition and current results. In order to simplify and speed up the payment process, change your mindset and step away from the traditional approach. Become familiar with four examples of effective ways to accelerate the payment process.
Filip Kniola