Managing cash flow is crucial in construction projects, and progress payments offer a reliable way to ensure steady income throughout the project. In this guide, we’ll cover what progress payments are, how to bill for them, their advantages and disadvantages, and best practices for managing them effectively. What is a progress payment? A progress payment

Running a small construction business requires juggling many tasks at once. From managing projects and tracking expenses to handling billing and payments, the right software can make all the difference. Whether you’re a general contractor or a painting contractor, having the best accounting software for small construction business operations is essential. In this blog post,

Cash flow is an important part of any business. Understanding cash flow helps you manage your finances, plan ahead, and keep your business profitable. Here we’ll explain what cash flow is and why it matters for your business. Cash flow definition Cash flow is the movement of money into and out of a business. This

A cash flow statement is an important financial document that allows you to see how cash moves in and out of a business. Cash flow statements show the cash generated and used during a specific period, such as a quarter or a year. It helps businesses see their financial health and cash flow clearly. Understanding

Ever feel like your business is running on fumes? You may be earning a profit, but there should always be enough to cover bills and business expenses. That’s where cash flow management comes in. What is cash flow management? Think of your business like a bank account. Cash flow management is tracking all the money

Bookkeepers play an important part in any successful business. They keep financial records organized, monitor the company’s finances, and offer financial insights that guide important business decisions. If you’re detail-oriented, good with numbers, and want to help guide a business to success, becoming a bookkeeper might be the perfect fit for you. What does a

Mastering the art of creating an invoice is important for any contractor. It ensures you get paid on time and keeps your small business running smoothly. Whether you’re an independent contractor or subcontractor or run a small contracting business, it’s important to send invoices that are clear and professional. This guide will equip you with the knowledge

For any small business, having a steady stream of income is vital. Yet, many small businesses make common invoicing mistakes that can negatively impact their cash flow and client relationships. In this post, we’ll uncover 15 common invoicing mistakes that can impact your small business, and show you how to avoid them. By following these

The world is your marketplace! In today’s interconnected world, it’s easier for businesses to reach a global audience. This opens doors to growth opportunities, multiple streams of income, and valuable market insights. Whether you’re a freelancer or own a small business, effectively invoicing international clients is key to unlocking the full potential of going global.

As a freelancer, you’re your own boss. It’s liberating, but it also means you’re responsible for your finances. Freelance bookkeeping is crucial for maintaining control over your business’ finances and ensuring you meet your tax obligations. According to studies, 37% of freelancers outsource their accounting, indicating that it’s difficult to master. But it doesn’t have

In the world of business, the terms “bill” and “invoice” are often confused. Many people make the mistake of using the terms interchangeably, but their functions are very different. Understanding the differences between bills and invoices is important, especially for freelancers and small business owners who need to manage their finances effectively. Let’s dive into

In business, seizing opportunities often relies on having the right resources at the right time. Purchase Order Financing, also known as PO Financing, is one such resource that can be a game-changer for businesses, particularly small enterprises aiming to fulfill large orders. This article explores the concept of purchase order financing, its significance for small

As a freelancer, one of the most important parts of managing your business is invoicing your services. Invoices are the business documents that get sellers paid and help the buyer make the payment. Whether you’re a seasoned pro or just starting out, knowing how to invoice properly ensures that you get paid on time and

How to do bookkeeping as a handyman Running a successful handyman business requires not only providing excellent services but also maintaining accurate financial records. Bookkeeping plays a vital role in managing your business finances and ensuring its long-term success. According to BuildOps, poor bookkeeping can lead to financial mismanagement, missed tax deadlines, and inaccurate reporting, which may

How to streamline bookkeeping as a mechanic In your day-to-day operations as a mechanic, efficiency and organization are essential. It’s crucial not to overlook the financial aspect of your business while you focus on servicing vehicles. Bookipi simplifies bookkeeping as a mechanic, which we’ll explore in this blog. Maintaining accurate records of your business finances can be

As a landscaping business, your equipment is the backbone of your operations. From lawnmowers to trimmers, each piece of equipment plays a crucial role in delivering top-notch services to your clients. By using Bookipi Invoice, you can even bill and receive payments from your customers directly upon completion of the job. Download and use our

To manage your small business finances effectively, tracking expenses is essential. Your business’s financial health is better understood when expenses are accurately recorded, and tax laws are adhered to. As part of this blog, we will explore the steps involved in tracking small business expenses, discuss the best methods for tracking, and highlight the benefits

A beginners’ guide for formatting invoices Invoices play a crucial role in business transactions. Invoices are documents that formally outline the details of a sale or service provided to a customer. A properly formatted invoice makes your small business look more professional and encourages prompt payment when payment terms are laid out clearly. Whether you’re

What’s the difference between pro forma & commercial invoices? Whenever you ship goods internationally, it’s important to understand the difference between a pro forma invoice and a commercial invoice. Both documents are used to track the sale of goods, but they serve different purposes. What is a pro forma invoice A pro forma invoice is

Businesses and consumers increasingly use credit cards as a method of contactless payment especially in a post-pandemic world. Credit card payments are a convenient and secure way to make purchases, online or in-person. Get paid on time using Bookipi’s invoice maker. How do credit card payments work? ​ A credit card is a payment card

As a small business owner, one of the most important tasks you need to master is sending invoices. An invoice is a document that outlines the products or services you have provided to a customer and how much they owe you.  This article covers how to send invoices, how to ask for payment, and the best ways

There’s a lot of business jargon when you’re a small business owner.  When it comes to billing customers, knowing what the terms “receipts” and “invoices” mean, how they differ and when to send these documents to clients may seem confusing.   This blog post explores the differences and similarities between receipts and invoices, and how Bookipi

Invoices and statements are common documents for small businesses. But do you know the difference between them, and when to use each one? Bookipi helps you manage invoices and make invoicing reports and statements. Let’s explore the differences between the two. Despite the fact that invoices and statements may look similar, they serve very different purposes.

As a business owner or manager, you may have heard of the term “purchase order.” But what exactly is a purchase order, and why is it important for your business? This blog post will explain what a purchase order is and why it’s important for managing your business’s purchasing process. What is a purchase order?

Accounts receivable (AR) refers to the money that a business is owed by its customers for goods or services provided but not yet paid. As an example, if you’ve issued an invoice to a customer but they haven’t paid you yet, the amount would be included in your accounts receivable. Use Bookipi’s easy-to-use invoicing software

A licensed plumber in California is required to provide a written contract or estimate whenever he or she undertakes any plumbing project valued at at least $500.  This is in addition to the law that requires a written estimate for the entire project. Learn more about contracts: Wikipedia What documents do I need to provide

What is a Value Added Tax (VAT) invoice? A Value Added Tax (VAT) invoice is a legally required document for any VAT-registered UK business that makes a taxable supply to another business or customer in the UK. A VAT-registered business in the UK must provide VAT invoices including the amount of VAT charged or paid

The success of any small business relies heavily on the accuracy of the financial records you keep to keep track of all your business transactions.  To help you manage your finances effectively, we have put together a list of six bookkeeping tips you should consider: Tip 1: Separate your business and personal finances To make

With Bookipi Invoice, you can make an invoice quickly and easily. The following steps will guide you through the process. Invoice examples  See an example of an invoice made using Bookipi below. How to make an invoice on Bookipi Step 1:  Sign up for a Bookipi account Sign up for a free Bookipi invoice maker account .

There is a buyer and seller in every business transaction. The seller may be a freelancer or business that provides goods or services to a customer for a fee. It’s this transaction that brings up questions. How do you make an invoice? How much money does the buyer owe? What exactly are they paying for?