Special order pricing is a process or technique used by many businesses when they have to calculate the lowest price of the services or products at which they are willing to accept the special order. This technique also tells the lowest price below which a business never accepts the special order. It is called a special order because a business receives a special order from its clients and customers at a price that is usually lower than normal prices. A business never accepts a special order at a lower price than the normal price if it can sell its product…

What is a statement of account? A statement of account is a document used to outline the transactions an account holder has conducted from his account. It is issued by the financial institution in which a person has his personal account. In many cases, the seller issues the statement of account when he wants to document the transaction between him and his customers. What is the purpose of using the statement of account? There are many reasons why people use the statement of account. Some of the common reasons are What should be included in the statement? In order to…

A service price list is a document in which a service provider includes the list of services he provides and the cost of each service. This price list is designed for customers and clients who want to know the cost of services so that they can decide whether to use them or not. Importance of service price list Designing the service price list can sometimes determine a business’s success. When a business wants to evaluate its profit margin, it can create a service price list. Creating the service price list is undoubtedly the main element of any business’s marketing strategy.…

Sellers of different items and services quote the price of the items they have to offer. The quoted price is for customers who are interested in buying those services and/or products. It should be remembered that the quoted price is subject to terms and conditions. The price quoted by the seller is a fixed price that cannot be changed once the customer accepts it and shows his willingness to buy the products or services at the quoted price. How does a price quotation work? Usually, a customer demands that the seller quote the price of the items he has to…

When someone wants to borrow money to get a house, he should determine how much he can afford to borrow. For this purpose, the borrower as well as the lender conducts the research and checks how much the borrower can afford. To check the qualification of the borrower, a mortgage qualification worksheet is used.  What is a mortgage qualification worksheet? A mortgage qualification worksheet is a calculator that helps a person or an institute determine whether or not the applicant qualifies for a house mortgage. When a person qualifies for the mortgage, then it is just how much he can…

Companies that need to analyze the data often use different tools that help them analyze the data by representing it in various forms. Many people believe in seeing the data by representing it in the form of graphs so that they can understand lots of things related to the data. What is a run chart? A run chart is a type of graphical representation of the data that helps a company in visualizing the data based on time. When it comes to determining the stability of any process and thinking of actions to be taken to make these processes successful,…

Everyone loves a vacation. Therefore, every organization allows its employees to go on vacation once or twice a year. The vacation refreshes the mind of the person when he gets a break from the tedious work.  Any person who is sick and tired of his daily routine can choose to visit a refreshing area to re-energize himself and to fill his life with happiness and enjoyment. Although going on vacation is something everyone loves, some people have to give it a second thought when they have to enjoy the vacation with a limited budget. Such people are required to stay…

Sudoku is a puzzle game that is based on logic-based strategies. In this game, the player has to perform the placement of the numbers based on logic. Sudoku is a Japanese word that means ” a single number”.   How to play Sudoku? Sudoku is a very interesting game. It becomes a mental exercise for many people when they focus on placing a number in the right grid. The basic objective of the person playing this game is to fill 9×9 grids with different digits in each row and column that each row and column gets all the numbers from 1…

Every company focuses on the organization of everything done. There is always a need to keep the data organized and then use it later on. It is also essential for an organization to keep track of all the data. Sometimes, there are lots of employees working in the organization. It is the basic requirement of every company to keep track of every employee regardless of the number of employees working in the organization. However, keeping track of each employee becomes difficult when the number of employees increases What is an employee’s timecard? An employee timecard is a document that is…

The future is unpredictable. Prudent people plan everything around it which enables them to change the gears and take necessary steps whenever it is needed. Every business conducts sales forecasts. However, conducting the sales forecast is extremely important for a small business than a large enterprise. A small business will be able to access all the sales opportunities available to it. What is a small company sales forecast? A sales forecast is a process used by every business to project future sales. A small business needs to forecast the sales so that it can know about the potential sales of…