Accounting Documents

Definition: During the normal course of the business, there are numerous different transactions that the business carries out. It is essential to ensure that all the transactions are properly recorded and can be retrieved with proper and relative ease. In the same manner, it is also important to have clear and discrete communication channels established …

What is a Purchase Order? Definition, Key Features, Usages, And Importance Read More »

Meaning Material refers to the raw material, or the inputs that are required by the company to fulfill the production process. Subsequently, material Control comprises managerial activities that are undertaken by the decision-makers of the company in order to ensure that the quality, as well as the quantity of the materials that are used in …

Material Control – Meaning, Objective, Advantages, and More Read More »

What is a Sales Discount? Sales Discount is referred to as a discount that is extended to the customer in order to incentivize him to pay the amount early or purchase more The slight deduction from the total bill depending on timely payment acts as a motivator for the debtors of the company, since they …

Sales Discount Journal Entry – Explained Read More »

Definition: A Stale Check is defined as a check that is presented to the bank after a considerable amount of time from the date that has been mentioned on the check. The dating timeline in this regard is mostly of a duration of 6 months or more. While the bank might not always refuse to …

What is a Stale Check? – Definition, Explanation, And Features Read More »

In Financial Accounting, both Rules and Policies help determine how a company prepares its financial statements. So, the differences between the two concepts might not be readily obvious. Generally, rules and policies combine to form the guidelines that guide a company’s financial statements. The goal is to ensure that a company’s financial statements conform to …

What Are the Difference Between Rules and Policies? (Everything You Should Know) Read More »

All businesses obtain receipts, invoices, and other documents in a bulk quantity. These documents should be neatly organized in an accurate office filing system. It is crucial to learn this organizing skill in order not to lose money, time, and other resources. The invoices and documents should be organized so that whenever one wants to …

Best Way to Organize Digital Invoices (4 Simple Steps) Read More »

Introduction A productive business is one that is organized. The thing which hinders a business from being organized is the bulk of paperwork. This task takes up a lot of time and effort which is why paper invoices are important to use for small businesses. Paper invoices let the business owners know the things they …

Best Way to Organize Paper Invoices? 7 Importance Tips Read More »