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Brianna Blaney

Sales Order vs Invoice

An important part of running any business is understanding the basic terminology behind operations. When it comes to accounting, two important terms that are often confused are “sales order” and “invoice”. 

Business Cash Flow

Your first step to ensuring healthy business growth is understanding the difference between cash flow and profit and the purpose each serves. This helps manage day-to-day operational processes and informs small business owners on proper cash flow management.

Global Payment Methods

You want to integrate as seamlessly as possible with existing accounting and ERP systems. However there are many key steps along the supplier payment process that still require significant manual effort beyond sending out payment instructions to the transfer API for bank, ACH, and wire services.

Cash Flow Management

Cash management helps to predict how much money will be available in the future to cover things like debt, payroll, and vendor invoices. Net cash flow is a critical measure of financial health for any organization.

What is W-8BEN-E

W-8BEN-E is an important tax document which allows businesses operating outside of the U.S. to claim tax exemption on U.S.-sourced income.  The official document title is Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities).

QuickBooks File Formats

There are over 50 QuickBooks file extension types but you don’t need to remember them all. This list contains what’s important to get started. Although it may feel like you are learning a new language, once you familiarize yourself with these extensions, it streamlines operations, creates a quicker workflow, and saves on time.

Accounts Payable Best Practices

Successful companies are always looking for ways to optimize internal processes, including accounts payable. No matter the size of your business, there will always be the need to pay bills.

Thus, it’s in your best interest to understand and update your accounts payable best practices on a regular basis. Here are a few tips and tricks to get you there:

OFAC

The Office of Foreign Assets Control (OFAC) administers and enforces economic sanctions based on U.S. foreign policy. The goal is to enforce national security against targeted individuals and entities such as:

ERP for Small Business

A company cannot expand without creating ordered channels that work together. The next step for a growing business is to consider enterprise resource planning (ERP) software. It helps to align operations and position your business for growth.

Accounts Payable

Accounts payable is an integral part of any business. It helps to make financial processes simple and more manageable. Without the AP department, business relationships would crumble and there’d be no room to establish brand trust. A company’s current assets are only as strong as its liabilities.

IPO Readiness Checklist

Enhanced prestige and increased capital make the IPO process an alluring decision for many private companies. However, an initial public offering requires a complex system of evaluation and requirements that must be executed perfectly. Thus, when considering a checklist for the IPO process, it’s usually rather long.

What is a SPAC

SPAC is short for a “special purpose acquisition company.” The intent is to raise money through an IPO (initial public offering) for the purpose of acquiring a private company that already exists. Subsequently, a SPAC has no commercial operations and exists solely for acquisitional purposes.

How to IPO

If you’re thinking about bringing your business public, understanding the entire IPO process is critical. There’s a reason a system is in place for going public. Everything must be done in order, otherwise, you risk serious fines from the SEC.

Stripe Competitors and Alternatives

7 Best Stripe Competitors and Alternatives PayPal Square 2Checkout Authorize.Net Braintree ChargeBee Wise (Formerly Transferwise) As most businesses move from paper to digital, the way we send and receive payments is changing. Online payment processing has become a popular form of transacting, giving customers the ability to easily pay with a debit or credit card. 

Procurement Management

Procurement management is about taking control of an organization’s spend. It’s administration over the process of purchasing goods and services, which requires preparation, solicitation, and payment processing.

ACH Transactions

ACH transactions are not as complicated as they sound. It’s just an easier and safer way to move funds. If you’ve ever signed up for direct deposit or paid a bill online, then chances are you’ve dealt with ACH transactions. When running a business, it’s important to understand the mechanics of ACH, including how it works, what could go wrong, and tips to streamline the entire process.

NACHA File Format

You want to integrate as seamlessly as possible with existing accounting and ERP systems. However there are many key steps along the supplier payment process that still require significant manual effort beyond sending out payment instructions to the transfer API for bank, ACH, and wire services.

Vendor Management Solutions

There are hundreds of software vendors online that will offer you the moon and the stars so, some discretion is in order. What might work for a small business could be disastrous for a large enterprise. Here are a few things to consider when choosing the right vendor management solution today:

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