Decoding Your Bill Ever opened an invoice and felt like you needed a Rosetta Stone to understand it? You’re not alone! Invoices, while essential for businesses, can sometimes look like a jumble of numbers and jargon. But understanding what each section means is...
What is an EIN? An EIN is an Employer Identification Number, which is a 9-digit federal tax ID. It follows this format: XX-XXXXXXX. This ID is issued to all US businesses in order to identify the business federally. Essentially, it’s a social security number for...
In the world of business finance, you often hear terms like “AP” and “AR” thrown around. While they sound similar, Accounts Payable and Accounts Receivable represent two distinct and crucial sides of your company’s finances. Together,...
The financial back office handles the critical processes that ensure transactions are completed accurately, securely, and compliantly. Among its many duties, one of the most vital and complex is the management of remittance. If you’ve ever wondered how payments...
In the world of business finance, you have your books (your internal records) and you have your bank statement (the external reality). In a perfect world, these two would match perfectly at the end of every month. However, in the real world of outstanding checks,...
