Facilitating transactions leads to a higher rate of growth, stronger business relationships, and tighter controls. Switching to digital invoices makes it easier to manage payments, retrieve records, and reduce mistakes. Paper invoices can get lost or misfiled, leading to delayed payments. Does an invoice mean you’ve been paid? State the date the invoice is due […]
Category Archives: Bookkeeping
To get the inventory turnover days, divide your average inventory by the cost of goods sold, and then multiply that number by 365. Next, calculate accounts receivable days by dividing average accounts receivable by net credit sales, followed by multiplying this result by 365. Financial statements must be prepared in a timely manner, at minimum, […]