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Difference Between Invoice And Credit Memo
Some daily business activities and transactions include common terminologies that might get a little confusing and bounce over your head. But, the initial confusion should not stop or hamper your work. Do not Worry! none of these terminologies are tricky as solutions in chemistry labs. Having a clear understanding of such business day to day terms and their usage is important for its fundamental growth. A deeper understanding of major difference between an invoice and a credit memo has been listed down here. It will help you have a clearer vision about the terms and their practical usage in the business. What is an Invoice? An invoice is an itemized list of entries for which a company has to make payments to its suppliers, vendors or service providers. The Account Receivable Account Payable Department receives invoices from the suppliers or vendors and scrutinizes it before processing it for payment. In most of the cases, company issues Purchase Orders to its vendors, requesting the items to be supplied to them. The Accounts Payable Department matches the items listed on the Purchase Order with that of the Invoice and also verifies that the items are received by them to clear the invoice for the payment. What is a Credit Memo or Credit Note? For the items returned by a company to its vendor, the vendor needs to issue a credit memo for the returned items. A credit memo is issued when the client has paid advance payments to the vendors. This would ensure that the vendor has been informed about the discrepancy in supplying the goods and agrees to the credit memo to the customer for the items not supplied exactly that were asked through the Purchase Order. So, what is the role of this note and how it represents invoice vs credit memo? Manage Accounts Payable of a company using both the invoice and the credit note for the payment processing. It deducts the amount of the credit memo from that of the invoice and clears the payment for the vendor. When is customer credit memo is issued? There could be specific circumstances when you feel the need to issue a credit memo to your customer. Some common instances could be, as followed: 1. When you need to cancel an issued invoice fully or partially. 2. You are seeking a partial credit for the wrong items supplied. 3. The goods have already been purchased earlier and you want to request a refund for the goods returned to the vendor. How to issue a credit note? Issuing this note is not a daunting task, whether you want to issue it manually or you are using any Accounts Payable Software. You need to select the Invoice and the Credit Note to be reconciled. Then, choose the amount to reconcile as the value therein the credit note. When you apply the change, the reconciliation will be affected with a reduced invoice amount after deducting the amount in the credit note. CONCLUSION The difficulties of terms don’t make the task difficult for you as the sole owner or small business. It is something that can be done easily and professionally. Invoicera an online invoicing software easily help you to create professional-looking invoices, credit notes and other memos with ease of a few clicks. Read the full blog here (Source) : Difference Between Invoice And Credit Memo
A beginner's guide to Commodity Trading
Trading in Commodity Futures and spots is what Commodity Trading is all about (derivatives). In commerce, a commodity is a natural resource through which institutions or people buy or sell. They get frequently used as the foundation for more complicated goods and services. Commodities get classified under four categories: Agricultural It includes animals (such as cattle, pork bellies, and hogs), as well as industrial and food crops (such as rubber, lumber, and wool) (e.g., soybeans, corns, and cotton). Metals Base metals (aluminium, iron, etc.) and precious metals get included here (e.g., gold, platinum, etc.). Energy Petroleum goods such as gasoline and crude oil and heating oil, natural gas, coal, uranium, ethanol, and electricity are all part of this. Environmental Renewable energy certificates, carbon emissions certifications, and white certificates are among the items available. Why trade in commodities? MCX Trading is a good choice for those who want to profit from price fluctuations while diversifying their portfolios. Commodity Trading is famous for many reasons: Diversification Commodities contribute to portfolio diversification. Returns on commodities have little to no link with returns on other major asset classes such as Equities and Bonds. It means that when these fall in value, commodities typically rise. Protection against inflation Inflation has a different impact on commodities than it does on Bonds and Stocks. This is because the currency value depreciates owing to inflation. Financial assets such as Bonds and Stocks lose the real deal because of this. Commodities, on the other hand, hold their price and value even when inflation is high. Liquidity Commodity Futures, unlike other assets such as real estate, offer a high level of liquidity. As a result, a commodity trader immediately liquidates their position. Higher returns Commodity markets are highly volatile, as their prices vary dramatically. Commodity Trading investments that are well-planned yield larger returns than other assets. Trading on lower margin In Commodities in MCX Trading, the margin deposited with the broker is around 5-10% of the overall value. This is significantly lower than the margins of other asset groups. This allows an investor to take more excellent positions with less capital, potentially enhancing their returns. Hedge against event risks War, natural disasters, and economic crises have the potential to depreciate an investor's holdings. These occurrences get referred to as event hazards. While such circumstances may have a negative impact on Bonds and Equities, they cause certain commodities to surge in price. Besides these, regional commodity exchanges operate throughout India for Commodity Trading. Understand what is MCX trading is for making use of the following benefits: Stable margins Compared to other asset classes, margin requirements for most commodities are consistent and minimal. As a result, an investor understands how much margin to include in a contract. Hedging against price fluctuations Forward Contracts get commonly employed as a hedging mechanism in industries where price variations are considerable. High liquidity Futures markets are typically liquid, particularly for indices, currencies, and other regularly traded commodities. As a result, an investor can enter or exit at any time.
What COVID-19 Impacted on Cleaning Robot in Semiconductors & Electronics Industry ?
Impact of COVID-19 on Cleaning Robot in Semiconductors & Electronics Industry ANALYSIS ON IMPACT OF COVID-19 ON THE MARKET The pandemic started with its epicenter in China in 2019 and has been continuously spreading by then to all over the world, so far 216 countries and territories have been affected with Covid-19, the U.S. being on the top with cases reaching about 4.38 million, followed by Brazil, India and then by many European countries such as Russia, Spain, Italy, and others. The COVID-19 cases reaching to the big named countries with strong dominance in the global market which has adversely affected the economy globally. The spread of the coronavirus has led to the global recession, many companies are being bound to take stringent actions of laying off their employees, small businesses are being shut, and manufacturing facilities are being put on hold. There has been a disruption in the supply chain of many industries due to restrictions in logistics and the closing of manufacturing facilities. In addition, the slowdown in the economy has lowered the spending capability of individuals and people are saving money for emergencies. However, now almost in every country, the factories are started to reopen by taking some prevention such as 20% -50% employees on the field, social distancing, extreme hygiene measures, and others to support the economy. It is supporting the economy and helping to lower the recession rate at a certain level. COVID-19 highly impacted the personal and domestic cleaning robots market due to the recession gripping the world and a decline in disposable income, the demand for personal and domestic robots declined. Also, the behavior of the individuals has certainly changed in the pandemic, people are now more concerned about their health and spending for future use due to incurred losses which lead to a decrease in the sale of cleaning robots. However, cleaning robots have a huge demand in the healthcare sector. During the time of social distancing, hospitals are demanding mobile robots integrated with UV-C light disinfection equipment to sanitize the wards and rooms to minimize any physical contact. For instance, In June 2020, According to the founder and chairman of Milagrow Robots, there has been a huge surge in demand for floor and window cleaning robots. The total sale is expected to be 300,000 to 400,000 cleaning robots in 2020 when compared to 10,000 cleaning robots in 2019. STEPS TAKEN BY MANUFACTURERS DURING COVID-19 SITUATION As the COVID-19 crisis continues to expand, makers would possibly face challenges on varied fronts. Producing firms would be searching for immediate measures to stay their workforces safe and their businesses solvent. Makers would conjointly have to be compelled to look on the far side of their economic viability. Because the COVID-19 pandemic intensifies, makers would possibly face continued downward pressure on demand, production, and revenues. They would continuously face cash-flow liquidity challenges and difficulties in managing debt obligations. In December 2020, LG Electronics announced the launch of the autonomous robot with disinfecting UV light for various B2B applications. This robot uses ultraviolet (UV-C) light to disinfect high-touch, high-traffic areas and is designed for hospitality, education, corporate, retail, restaurant, and transportation customers to reduce exposure to harmful bacteria and germs The pandemic may drive the enhancement of automation, digitalization, and artificial intelligence (AI) in almost all sectors. In a situation like social distancing automation and robotics could reduce dependence on human labor and increase productivity, preventing the chances of losses. The pandemic has boosted the growth of healthcare industries. As people need to maintain physical distancing, manufacturers can gain the advantage of this norm to address the mass public in hospitals and crowded places. Manufacturers were engaged in product development with advanced technologies, partnerships, and collaborations to gain a competitive advantage in the market. For instance, In January 2021, SAMSUNG announced the launch of new AI-powered robotic vacuum and laundry products. The new JetBot 90 AI+ features smart technologies that optimize the cleaning route and respond to its environment. The JetBot 90 AI+ is the world’s first smart robotic vacuum that helps to automate home cleaning in these Covid times IMPACT ON DEMAND The behavior of the individuals has certainly changed in the pandemic, people are now more concerned about their health. The government is also working on research and development to develop a vaccine and avoid any further pandemic as such. The government is using augmented and virtual reality for the known disasters which can help in reducing the effects of the disaster. The pandemic has boosted the digital transformation of industries, companies are focusing more on a digital platform to interact with their clients and customers. The pandemic has brought a huge demand for cleaning robots to ensure safety as COVID-19 has put cleaning and disinfection front and center in facility maintenance and at other places. Huge adoption of technology, automation, and smart buildings is gradually increasing the scope of growth for the cleaning robot market. IMPACT ON SUPPLY CHAIN The pandemic has brought a huge impact on the supply chain of the cleaning robot market. The logistics and transportation of assets deteriorated a lot. The supply chain was adversely affected as the lockdown prevailed in many regions globally, the government has limited the workers. Companies are making their operations work according to the government regulations by making limited workers work in different shifts. The supply chain is experiencing disruption in Chinese parts exports, large-scale manufacturing interruptions across Europe, and the closure of assembly plants in the U.S. The manufacturers were facing a shortage of raw material, shifting of production to other countries, liquidity crunch to delays in availability of models, and deferred launches. However, now there is an improvement in the supply chain as most of the facilities and travel restrictions have opened and working in most optimum capacity. CONCLUSION As the Covid-19 prevails the cleaning robot market has witnessed a gradual increase in the demand for cleaning robots and services. Most of the manufacturing facilities were closed bringing down the production of cleaning robots which leads to disruption in the supply chain. However, as the markets are getting digitally transformed and people are being more reliable on digital sources the market seems to be growing. Organizations operating under this market were building up new strategies to maintain all the safety measures at facilities and focusing on technological up-gradation to boost the growth of the market. Even after the pandemic automation of industries will continue to increase which acts as a major driver for the market. Growing demand from the healthcare, media & entertainment, and retail sector will act as a major boosting factor for the growth of the market in this pandemic.
Basic Information About Quality Assurance Consultants
Quality is not a linear word; it has multiple definitions. When it comes to quality and its assurances, business lacks knowledge and expertise that is why they prefer contacting Quality management consultant. If you wanted to know more about quality assurance, read more. What is quality? The definition of quality also varies from person to person, but in organizations, there must be some standardization that can be documented and treated as quality. In simpler words, quality is fulfilling the customer needs and expectations on the parameter of durability, price, design, reliability, customer service, functionality, and others. What is assurance? Assurance gives credibility and makes a trust bridge between a business and its other stakeholders. It guarantees that the product or services is without any flaws and a customer will get 100 percent satisfaction and value for their money. In-house quality assurances do not make that much impact as compared to assurance from quality assurance consultant professionals. When a business spends on quality management consultants, it is an investment. The invested money gives returns in the form of more customers, high brand value, more expansion, and excellent future growth prospects. As a business, if you are looking for top-ranked Quality management consultants in Australia, contact PQAS. Quality assurance process Professionals from Quality management consulting services make a customized quality assurance process by considering aspirations, industry, business size, human resources capability, budget, and other requirements. Get Quality Assurance certification now. The process involves four stages:- 1. Planning- Once you contact quality management consultants from www.pqas.com., they understand every detail of your requirements and also does the ground study. This is the first and crucial stage and all the important decisions are taken in that stage only. Based on the planning, the business gets into a contract with professional consultants and signs a deal. 2. Development and testing- Actual work starts at this stage. Quality management consultants in Australia develop a framework of guidelines/changes and start testing for its efficacy. A small sample size is taken and if the process is successful, the next process starts. Consultants train and prepare master trainers for further dissemination of the information and imparting the knowledge. 3. Monitoring- Any changes take time to give results and in that period it is essential to keep a watch on the process. This helps in mitigating the weaknesses and focusing on the strengths and opportunity areas of the work. 4. Executing- In the final stage, quality assurance consultants implement the work. They ensure that the business fulfills its objectives of implementing a quality assurance process. A business should adopt a quality assurance process periodically to ensure that the product/service is designed and implemented with prescribed procedures. It reduces errors and problems and gives a quality product.
Employee V/s Entrepreneur | Which Path to choose in 2021?
Introduction to Employee V/s Entrepreneur Employee V/s Entrepreneur. You must have listened to both words. Moreover, Entrepreneurship has become quite popular over the past years. Instead of working as an employee, many people want to start their own business. You may have also listened to your parents, relatives, or people saying to have a secure job. What is right? Should we choose a job and feel secure in our life because entrepreneurship, starting your own business is very risky. While being an entrepreneur can have many important advantages, there are also some issues related to it. Till now you were confused between job and entrepreneurship but after reading this article you will be cleared and you will make a decision on your own, what to do? Because I know both worlds and give you all the pros and cons of employee v/s entrepreneur in the following article. In today’s world, people are very much confused about what to do. Should they take some risk and leave their 9-5 job, or should they build a business with their job? Should people who have their own business also close it? There are unlimited questions like this, but that all questions will be solved as today you will learn the pros and cons of entrepreneurship, job, and shifting from job to entrepreneur. First, let’s see what are the conventional concepts and things which we have been taught till now about employee v/s entrepreneur. What have we been taught about jobs and entrepreneurship? Generally, in most families, we have been taught about having a secured job. The thing which most parents want their children to have is a secured job. But according to the conference board, 53% of Americans are currently unhappy at their job. Then why do they say so? To let their children be unhappy? So we have to choose entrepreneurship right? But According to the U.S. Bureau of Labor Statistics (BLS) data, shows that approximately 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years. Only 25% of new businesses make it to 15 years or more. We can say that 90% of startups fail. This clearly means there is a lot of risk in entrepreneurship than a job. Because we get at least job security and we get a paycheck every month in the job. But have you seen any millionaire or anyone who is fulfilling his dreams and is successful because of his job? People who are billionaires today were always entrepreneurs, never at jobs. But no one in our society generally talks about entrepreneurs, they just talk about jobs or self-employed. So what to choose? We will look into it. This was just what have we been taught. Pros And Cons Of Being An Employee V/s Entrepreneur Pros Of Being An Employee It is not a secret that many people hate their jobs. For some people, it’s because of their boss or colleagues. For others, it’s because of the perceived lack of work-life balance. Regardless of the reasons, there are also many benefits of working a 9-to-5 job that could lead you to think otherwise. Let’s have a look at some of them: #1 Regular Paycheck Whether the business is in loss or profit, it is the best thing about the job is a regular paycheck. Like if you have done any EMI, then you don’t have to worry about that. In fact, a paycheck is the most exciting thing for many peoples. If you are in a job, then just imagine the time when the paycheck comes. You have your widest smile while seeing the text of salary, haven’t you? Why? Because money cannot buy you happiness but can give you stability and security. It gives you a kind of feeling of security and independence. As long as you will give value to the company, you will receive a paycheck. #2 A Sense Of Identity Have you visited your relative party, or any kind of party, meetups, meetings? What is the question someone asks you there if he doesn’t know you? First, he asks your name, and then in most cases after that What do you do? At this time job gives you an identity. Though many people hate their job in this situation they proudly say their position. For Example, Your Name, FBI. This is the benefit of having a job as it will give you a perfect definition of who you are. #3 Experience You may have listened to people saying before starting your own business, you should once be in the job. Even I believe that before starting your own business, you must gain experience of business by doing a job, not for the paycheck but the experience. As a job gives you a lot of experience. In fact, if you get a job in the business which you are going to start, then the job will teach you a lot about management, sales, some strategies, and many people. #4 Meet new people  The job allows you to meet many new peoples who can be your friends, mentors, colleagues, or competitors. This helps you to improve your social skills. This helps you to improve your confidence, communication skills, and also meetups. It is fun working with new people which you get here. Maybe one of them is your best friend forever. #5 Work-Life Balance In your 9-7 job, though you don’t get time between 9-7 you get time after that. You don’t have to bother with stress after that. In our life, there’s not only work but our lives also matter which includes our family. The best thing about it is after 7, we are free of stress, work, and the burden of work. And we can easily give time to our family. This is the work-life balance. #6 Work with a community  On the job, we mostly work with a community. The community doesn’t here mean your home community but office community. We as an employee work with other employees as well. We can tell it as our work family. Sometimes all the people enjoy and do the work which is like working fun. Cons Of Being An Employee Till now you may think that job is the best, as we get many works as well as social advantages. But we can decide by seeing one side of any coin. If we see only the pros of anything, then we would definitely say “YES”.  #1 Less Job Security  The thing which you have to keep in mind and which people ignore is businesses are not emotional. They don’t want people who don’t have the proper skills to work. Today robots are taking place of humans. It is not popular till now, but it will be common soon. It is said that in businesses you have to fire 10% of your employees every year of bad performance. Businesses don’t want quantity, they want quality. In fact in today’s world people with high skills also don’t get a job. Job security is in very few jobs today. Remember this point always “If you don’t come to work on time, you’ll be fired.” #2 You can’t decide Your Job Earnings And Reward [ Income is not equal to action ] Know more: click
Riveting Productivity & Time Tracking Tools
Employees and managers use productivity & time tracking tools to keep track of working hours for payroll, billing, and other activities. These tools allow the enterprises to estimate budgets, better productivity and ensure transparency and accuracy by notifying them about time-consuming and costly tasks through the dashboards. There is a steep rise in employee productivity monitoring software tools, especially during the COVID-19 outbreak when companies need to oversee better and evaluate the remote workforce. Market Growth As per Introspective Market Research, the global time tracking software market is expected to reach USD 1785.36 billion by 2026 from USD 425.32 billion in 2019, at a CAGR of 22.36%. Need of Employee Time tracking software Many companies are still using conventional paper timesheets for time tracking, due to which buddy punching and time theft are major concerns in such organizations. Almost 75–80% of businesses are affected by time theft, due to which companies are shifting towards the online automatic time tracker app and tools. As per statistics, on average, employees spend nearly 2 hours per day overcoming distractions at work, and approximately 90% admit to wasting the time of an organization. Time tracking tools remove the risks of time theft and buddy punching, thus contributing to better employee productivity and enhancing employee performance and engagement. But it is not a simple task to select the best tracking tool from the different tools available in the market. Check the complete list below - 1. WorkStatus WorkStatus is an online time tracking tool that provides an excellent medium for individuals and organizations to enhance employees’ productivity. It majorly focuses on delivering reliable & secure solutions that enable customers to focus on their core business objectives. Let’s have a look at some of its features below- · It gives you AI-powered time tracking with online timesheets · Track real-time progress with employee monitoring software · It allows you to create Geofences with a GPS time tracker · It enables you to define budgets with project budgeting 2. Hubstaff Hubstaff is another excellent productivity monitoring and control tool designed to improve time management for staff. It has dedicated web, mobile, and desktop apps that can be used to monitor invoicing, appraisals, and attendance via a single platform. Let’s have a look at some of its features below- · It has a compliance management module · It shows the browsing history of employees · Idle time monitoring & activity tracking · Automatic time capture 3. Time Doctor Time Doctor is a perfect application for hybrid work models and distributed teams. It can be easily deployed through cloud, desktop, and mobile apps. It comes with a robust support team that gives live training via documentation and videos. In this way, it helps companies to boost their productivity. Let’s find its unique features below- · Calendar management & browsing history · Invoicing & billing management module · It allows you to manage billable & non-billable hours · Automated time capture Conclusion We are now on the same platform to understand that time management tools at work can effectively boost a team’s overall productivity and streamline the payroll process. It is now self-explanatory to realize the worth of productivity monitoring tool and the need to implement the same in businesses and organizations. Sign up for the online time tracking software here. Read More : 8 Riveting Productivity & Time Tracking Tools
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Solana NFT Development - Launch NFT Marketplace on Solana
NFT Marketplace on Solana The increasing number of NFT adoption in this digital world boosts traffic on NFT Marketplaces, causing network congestion and more transaction fees. In order to alleviate these shortcomings, new blockchain networks are being created. Solana is one such blockchain network that enables quick transactions with less gas fee due to its unique consensus algorithm. NFT Marketplaces serve as a central platform, and this NFT MarketPlace on Solana speeds up transactions while keeping gas costs down. If you're perplexed by the development of a Solana-based NFT marketplace, you're not alone, you've arrived at the right location. Solana NFT Marketplace Development The huge trend of non-fungible tokens has necessitated the creation of a digital environment to facilitate their exchange. NFT marketplace platforms dedicated to launching and trading NFTs offer a beneficial experience for both makers and takers. Maticz is a top-rated NFT Marketplace Development Company that offers premium Solana NFT marketplace development services to help you to launch your own NFT marketplace platform that gives a seamless user experience and helps you to stand out from the competitors. Our Solana NFT marketplace platforms come with a robust trading engine, storefront, advanced searching filters, and so forth. Solana NFT Development Nearly every business industry has been impressed by NFTs, which have experienced tremendous growth and rewards in terms of profits and revenues. Maticz the pioneers in NFT development Services on Solana can assist you in creating NFTs for works of art, digital collectibles, gaming, sports, music, movies, the metaverse, and more. Our end-to-end NFT solution includes trustworthy security and cutting-edge innovation, that provides small and large enterprises a new set of advantages they've never had before. Benefits of Solana NFT Marketplace 1. Solana NFT Marketplaces satisfies the blockchain trilemma with a fully decentralized, scalable, and secure. 2. It removes central authority so that it does not restrict the user's transactions in any way. 3. The Lucrative Solana NFT Marketplace allows users to stake their NFT digital assets and generates a handful of profits. 4. Solana is 3500 times quicker than Ethereum and 10,000 times faster than Bitcoin in terms of transaction speed. Contact Us for Solana NFT Development >>>