What Is An Invoice Used For?

An invoice, bill or tab is a commercial document issued by a seller to a buyer, relating to a sale transaction and indicating the products, quantities, and agreed prices for products or services the seller had provided the buyer. Payment terms are usually stated on the invoice. These may specify that the buyer has a […]

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Goodwill Definition And Accounting For Goodwill

Goodwill in accounting is an intangible asset that arises when a buyer acquires an existing business. Goodwill represents assets that are not separately identifiable. Goodwill does not include identifiable assets that are capable of being separated or divided from the entity and sold, transferred, licensed, rented, or exchanged, either individually or together with a related […]

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Cashflow Management Tips For Small Business

No matter how expertly you manage your budget, you can confidently project a surplus at the end of the year and still not have enough cash at some point during your fiscal year. That’s because money doesn’t always come in and go out smoothly from day to day or month to month. In order to […]

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Financial Accounting: Introduction To Small Business Accounting Terminologies

Understanding small business accounting vocabulary is an important first step in learning how accounting really works. So let’s look at some key terms in financial accounting and their meanings. The Journal, sometimes call the Book of Original Entry or more commonly the General Journal, is how transactions are entered into accounting records. It is a […]

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The Essential Elements Of VAT Invoices

If you happen to manage a small business for which you are registered for Value added tax, then its important that whenever you supply goods or services to anyone else you must issue him or her a VAT invoice. Being a registered business enterprise, you’ll be able to reclaim Value added tax on purchases made […]

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