Given its range of functions and complexities, it is perhaps of no surprise that there are multiple approaches to accounting. One such approach is single entry accounting. But exactly what is single entry accounting? What are the advantages and disadvantages of it? Who should use it? How does it differ from the double entry approach? This article answers these questions and aims to tell you [...]
Accounting standards are used as a way to unify annual and consolidated financial statements. The standards make statements both more meaningful and easily comparable. Accounting principles exist at both the national and international level. But which standards should be observed? We provide you with an overview of the objectives and functions of commercial accounting, as well as the specific [...]
Using a template to write invoices saves you a fair bit of time. While you still have to enter all of the payment information for each order on your own, sample invoices provide a ready-made design that you just have to fill in using the relevant company and customer data. But how does the perfect invoice template really look? And what should an invoice template consist of?
Business meals and other such events are a significant part of many businesses day-to-day activities. There are many companies out there that spend a lot of money in order to be able to have a nice setting and atmosphere to conduct meetings with clients. This can be to discuss both current and future projects. However, once the bill comes, there is also the important matter of the entertainment [...]
Facilitate the settlement of transactions with regular customers by combining regular deliveries or other services in a collective invoice. Periodic billing of this kind facilitates bookkeeping and saves time and money. Please refer to our article for the tax requirements that apply to the preparation of collective invoices.
Would you like to avoid defaulting customers, but you don’t know how? With 1&1 letter before action templates you can easily write your reminders. With prewritten texts, you can strengthen the management of your receivables. The aim of an effective dunning procedure is to reduce the number of customers and reduce the risk of loss of receivables. We will show you how to maintain your position as a [...]
Cash flow statements provide the recipients of quarterly or annual financial reports with an overview of the company’s use of funds. They help investors assess their financial and economic situation. Depending on the company’s focus, preparation of the cash flow statement must comply with the requirements laid out by the FRC and in the IAS 7. In this article, we give you a short introduction into [...]