It can be tedious work that takes up a lot of time, but it’s important because it helps you understand where your money comes from and how much you have left over at the end of each month or year. Statistics report that Chamber Members have the highest rated customer service in the industry. Doing […]

Depending on the nature of the business, the types of cash receipts may vary. Cash receipts are important to all businesses, no matter the industry. Recording cash deposits accurately helps a business track its income and expenses. In Canada, the major differences in receipt systems exist between the sale of goods and services, and between […]

Accordingly, the 2/10 net 30 payment term means you can take a 2% discount on the total due amount. Otherwise, you would have to pay the full amount standing against the due invoice by November 9. Say, your supplier sends an invoice with payment terms of net 30. Accordingly, you are required to pay your […]

When the discount rate is annual (i.e. as with an interest rate on a certificate of deposit), and the period is a year, this is equivalent to the present value of annuity formula. This equation is used in our present value calculator as well, so you can use it for checking your PV calculations. The […]