An invoice is a customer’s bill for a sale after goods or services have been delivered but before payment has been made. Accounting software is the best way to create and send an invoice but typically costs a monthly fee. To help, we have a free, downloadable free invoice template in Excel, PDF, and Word….
Top 7 Free Invoice Generators
If you’re getting your business off the ground and you’re generating less than five invoices monthly, you can either create invoices manually or use a free invoice generator. Out of these two options, we recommend you try an invoice generator. In addition to creating professional looking invoices, your customers can pay their invoices online. For…
What Are the Best Invoice Payment Terms for Your Small Business?
Choosing the wrong invoice terms can disrupt your cash flow and alienate customers. However, for an entrepreneur just starting out, it can be difficult to know what terms to set to get paid faster and establish positive relationships with your customers. Your industry and client history are key components in choosing the right invoice terms….
Understanding Early Payment Discounts on Invoices
An early payment discount (also called a prompt payment or cash discount) is a reduction in an invoice balance when it’s paid before the due date. A common discount is 2/10 – net 30, which means buyers can earn a 2% discount by paying in 10 days. A $500 invoice would be discounted to $490….
Small Business Bookkeeping, Accounting & Tax Guide
Small business bookkeeping consists of recording your business’ daily transactions. This includes sales, expenses, inventory purchases, and liabilities that you incur. If you’re first starting out with small business accounting, you will most likely do the books yourself and hand them over each year to a tax professional who will prepare your tax return. How…
6 Best Business Expense Tracker Apps
The best business expense tracker apps allow you to capture receipts electronically, import credit card transactions, and integrate with most accounting software products. As a result, employees spend less time tracking down receipts so you don’t miss out on any tax deductions. We evaluated a dozen options and narrowed it down to the top six….
Extending Credit to Your Customers: A Primer for Small Business Sellers
Extending credit to customers allows them to purchase goods and services on credit and pay for them later on. Offering credit is often a win-win for both merchants and buyers. Customers have more purchasing power, and tend to buy more if they are not limited to cash they have at the time of the sale….
Intuit Payroll: QuickBooks Online Payroll Self Service vs Full Service
Intuit offers two options for adding payroll functionality to its QuickBooks Online accounting software. Self Service Payroll provides complete payroll functionality for businesses wanting to do payroll themselves. Full Service Payroll, by comparison, is an outsourced Intuit payroll online option in which accuracy is guaranteed. Both Intuit payroll online options fully integrate with QuickBooks Online….
4 Best Xero Competitors
While Xero remains one of the best accounting software options for small business, there are plenty of Xero competitors that might be a better fit for you, whether you need a more affordable or easier-to-use solution. We look at some of the big names in accounting and bookkeeping to help you find the best choice….
Find Bookkeeping Services for Your Small Business in 6 Steps
Selecting the right small business accounting services will require you to invest some time. Finding the best bookkeeping services for small businesses requires six key steps: identifying your needs, deciding what tasks to keep, getting referrals, deciding between a virtual or local firm, identifying quality candidates, and asking the right questions. Bench, the sponsor of…
How to Set Up Xero – Step-by-Step Instructions
Bookkeeper is one of the many hats small business owners wear. If you’re like most small business owners, you probably don’t have an accounting or bookkeeping background. That’s why you need accounting software program like that’s easy to use. Our free Xero training courses will help you get your busy setup in no time. Xero…
13 Best Free Time Tracking Software Options
Learning how to properly bill time can be a tricky concept to master. In this guide, we uncover the 14 best free time-tracking software options that can ensure accurate billing to your customers, or accurate payment to employees/contractors who have performed the work. These provide a great alternative to manual time sheets and will work…