When an owner wants to operate their sole proprietorship under a business name different from their own, they must register a fictitious name. Sole proprietorships assume unlimited liability, while LLCs have some liability protection. This means that the business owner and the LLC are bookkeeping considered separate entities, so their […]
Bookkeeping
Other names for this type of discount are a cash discount or a prompt payment discount. Usually, suppliers traditionally offer prompt payment discounts ranging from 1% to 5% to encourage early payment by buyers. However, a rising trend is dynamic discounting, where either the buyer or the seller can initiate […]