Which Microsoft 365 alternative fits your business?
Many businesses are actively searching for a suitable Microsoft 365 alternative that fully meets their needs. The market offers a wide selection: in addition to paid offerings, there are also surprisingly powerful free solutions available. In this guide, we compare various…
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How to write a receipt of payment (with template)
Writing receipts of payment has become quite simple. Professional templates and software make bookkeeping as easy as possible. Your receipts are automatically filled in with all the necessary details and are ready for printing. But when is a receipt of payment required? And what…
Africa StudioshutterstockQuotation templates: best tips and examples
A well-crafted quotation template boosts your chances of converting interested prospects into customers. It’s essential that the quote aligns with their expectations while also ensuring the structure, format, and content are professionally presented. Quote templates for Word and…
Yuganov KonstantinshutterstockWhat is cost of sales? Definition and examples
When it comes to cost of sales, only the direct production costs related to the goods sold are matched against the sales revenue in the profit and loss statement (P&L). These include costs like raw materials and labor. Other operating expenses, such as marketing and…
- Advice
Andrey_PopovshutterstockHow do you record cash discounts? Explanation and example
What does a cash discount accounting record look like? Once you know how to record a cash discount, it’s quite simple. However, the topic can be confusing at first: What about sales tax? Should I book the discount as a price reduction? Should I use the gross or net method? We’ll…
- Advice
Watchara RitjanshutterstockWhat are hidden assets?
Hidden reserves can occur within a company through many ways. Some arise more or less of their own accord, others are created either intentionally or unintentionally. Usually these are completely legal or even required by law. On the other hand, however, these hidden assets can…
- Advice
RomanRshutterstockLoss carryforward and loss carryback
With the concept of a net operating loss (NOL) deduction, you can reduce your loss through tax relief and save taxes in the prior or future year. To apply for this, you would use the NOL carryforward or NOL carryback provisions with the IRS. We explain what these terms mean and…
- Advice
Mohd KhairilXshutterstockSaving taxes: best tips for the self-employed
How can you make the most of tax deductions as a self-employed individual? This article outlines essential tax tips for freelancers and business owners in the U.S. Learn about the deductions you can claim, which taxes you need to pay, and how to reduce your tax liability with…
- Advice
jijomathaidesignersShutterstockHow to create a private invoice using a template
Invoices are primarily known from business transactions. However, private individuals can also issue invoices—for example, when selling a used item or providing a one-time service. It is important to follow certain guidelines to ensure that the private invoice is correct and…
- Advice
Zheka6120shutterstockGetting Things Done: Time management with the GTD method
Getting Things Done (GTD) is a productivity and time management system that was developed in 2001 by David Allen and now has a large community of followers. What’s so special about the GTD method? You can apply it to all areas of life to prevent important to-dos from falling…
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