Running a bed and breakfast in a small town can be a fulfilling and profitable business if approached thoughtfully. Small towns often attract visitors who […]
Understanding the Term “Payable by Invoice”
The term “payable by invoice” refers to a common business practice where a company bills its customer for goods delivered or services rendered through an […]
Is Retained Earnings Really an Asset? Here’s the Truth
Retained earnings represent the cumulative amount of a company’s net income that has been retained or kept in the business rather than distributed to shareholders […]
What FOB Means in Invoicing and Shipping
The term FOB, short for Free on Board or Freight on Board, appears frequently on invoices related to international shipping. This term signifies a key […]
How to Charge VAT on Invoices for Clients in the EU
Value-added tax, commonly known as VAT, is a consumption tax levied on goods, services, and other taxable supplies in many countries, including all members of […]
Volunteer Work Isn’t Tax-Deductible—But These Expenses Might Be
Volunteering is a generous and impactful way to contribute to the community, but when it comes to taxes, many people wonder if the time they […]
Understanding the 4 Main Types of Estimates in Trades and Home Services
In the realm of construction and home services, one of the fundamental challenges faced by contractors and tradespeople is accurately predicting the cost of a […]
Accounts Payable Explained: What It Is and How It Works
Accounts payable is a crucial component of a business’s financial operations. It represents the money a company owes to its suppliers or vendors for goods […]
The Power of Estimates: Why Small Businesses Can’t Afford to Skip Them
One of the most valuable advantages of using estimates in small business operations is the clarity they provide in client communication. When a business offers […]
Is a Quote Legally Binding? What Small Businesses Need to Know
When running a small business, it is crucial to understand the legal distinctions between a quote and a contract. Many business owners confuse the two, […]