So always make sure to add the item to your inventory before dispatching it and collecting payment. You need to fulfill a sales order quickly, so when you get the finished product, you ship it and generate an invoice for payment. A BoM or bill of materials is the list of items you use to […]
Bookkeepers used to simply gather and quality-check the information from which accounts were prepared. But their role has expanded over time, and we’ll look at how in the next chapter. †Xero customers who use accounting software for startups online invoice payments get paid up to twice as fast than those who don’t use online invoice […]
Independent contractor contra asset account status can also apply across a few different business structures, such as a sole proprietorship, where a single person runs the business. But if you form a limited liability company or adopt a corporate structure for your business, you can still be classified and taxed as an independent contractor if […]
Any information that a customer has requested concerning the products or services is contained in this internal document. The order shall then be forwarded to the relevant departments, for example, production, distribution, or service delivery, and will begin a fulfillment process. The order-to-cash process involves everything from when a customer places an order to receiving payment. Quote-to-cash […]
Professor Anthony Webster introduces real estate finance providing an overview of the real estate project lifecycle, a discussion on zoning code parameters, and examples of estimating the sales price of a property. A higher number indicates that each dollar of working capital spent is leading to more revenue generated in sales. Across the construction industry, […]
When you hire a professional bookkeeper, it takes all the stress and anxiety off your shoulders. You won’t need to worry about it being done, done on time, and done correctly. Plus, outsourcing this task allows you to focus on other aspects of your business that you likely find more enjoyable, such as product development […]
The accounting cycle is a set of steps that are repeated in the same order every period. The culmination of these steps is the preparation of financial statements. Some companies prepare financial statements on a quarterly basis whereas other companies prepare them annually. Free Course: Understanding Financial Statements The trial balance gives you an idea […]