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Purchasing

Purchasing is an important process within an entity’s business. Effectively you’re purchasing everything you need – your supplies, your services, your employees’ time and so on. When we talk about purchasing, we’re talking about things you’re buying for your company for your business.  (more…)

Payable for expenses

There are two things one can buy from a supplier – an item of inventory or an item of expense (be it service or an item charged directly to expenses). Whilst items of inventory are a topic on their own, with this post we’ll focus on expenses.    (more…)

Writing down a receivable

Should the event arise that you consider a receivable uncollectable in full or in part, that is you consider that your customer considering the circumstances wont be able to pay what they owe, you either decide to write the receivable down in value to the amount they will be able to pay (that is you’re […]

Revenue and receivables

Revenue and receivables are your primary process when it comes to earning profits, earning resources to spend, to invest. Something to note is that revenue is just this one stream on your income statement, it’s the stream of your income for the defined period and it arises from the sale of goods or services (whatever […]