Inventory shrinkage is the difference between a product’s recorded stock count and the amount physically on hand. The difference between these two amounts is referred to as “shrink.” In a retail setting, it is also sometimes called retail shrink. Either way, both mean the same thing—you’re missing inventory you thought you had. In general, there…
Voice-over-internet-protocol (VoIP)-enabled phone systems have functionalities that go beyond making and receiving calls. For instance, they can offer automated attendants, which are voice menu systems that eliminate the need for a live operator—reducing costs and improving callers’ overall experience. Other essential VoIP phone features offered by the leading providers include things like call forwarding, call…
High definition (HD) voice calling is a voice technology that delivers an enhanced calling experience using wideband audio technology and noise cancellation. It reduces background noise and provides clearer audio connections. Today, HD voice calling is a standard feature in most leading business phone systems. Keep reading below to learn more about what HD voice…
The Real Estate Settlement Procedures Act (RESPA) was created in 1974 by the United States Congress to protect against abusive practices and unnecessarily high costs associated with homeownership. RESPA seeks to eliminate unethical practices like kickbacks, fees, and errors, and ensures disclosures are provided to buyers and sellers during the process of obtaining a mortgage….
When a real estate agent or broker refers a client to another agent, they can collect a realtor referral fee. Real estate referral fees motivate salespeople to connect clients with other real estate professionals and provide an opportunity for passive income. Fees can range from 20% to 35%, but the standard fee is 25% of…
The specific identification inventory method is an accounting method that explicitly identifies each individual unit of inventory and assigns it its actual cost. This method of inventory accounting doesn’t use assumptions like first-in, first-out (FIFO), last-in, first-out (LIFO), and the average cost methods. The cost of goods sold (COGS) and ending inventory are determined by…
A conference bridge is a dedicated phone line that enables multiple people to communicate over a single platform. While its functionality is similar to a conference call, a meeting host is not required to manually add callers to the meeting. Each participant dials the number or enters a code to join a virtual meeting space….
Realtors are licensed real estate agents who are members of the National Association of Realtors (NAR). These members comply with a strict Code of Ethics while serving both residential and commercial real estate buyers and sellers. Realtors can include salespeople, property managers, appraisers, or counselors, and are located all over the world. To learn what…
