Crowdfunding is one of the newer ways of funding a startup(s). So, some entrepreneurs put up a detailed description of their businesses on a crowdfunding platform. They mention the goals of their businesses, plans for making profits, how much funding they need and for what reasons and then consumers can read about the business(es) and give money if they like the ideas. Anyone can contribute money toward helping a business that they really believe in. Actually, we can say that there are some business ideas that are perfect for crowdfunding: Original tech gadgets; Independent books; Home cooking tools; Local Service businesses; Unique home inventions and etc.
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1. Accounts Payable
Records payable is a business fund 101 term. This speaks to your private venture's commitments to pay obligations owed to banks, providers, and loan bosses. Once in a while alluded to as A/P or AP for short, creditor liabilities can be short or long haul contingent on the sort of credit gave to the business by the loan specialist.
2. Accounts Receivable
Otherwise called A/R (or AR, great theory), accounts receivables is another business fund 101 term that implies the cash owed to your private venture by others for merchandise or administrations rendered. These records are marked as resources since they speak to a legitimate commitment for the client to pay you money for their momentary obligation.
3. Gathering Basis
The gathering premise of bookkeeping is a bookkeeping technique for recording salary when it's really earned and costs when they really happen. Gathering premise bookkeeping is the most widely recognized methodology utilized by bigger organizations to record and keep up money related exchanges.
A business fund term and definition alluding to costs that have been brought about yet haven't yet been recorded in the business books. Wages and finance charges are normal models.
Online exchange handling (OLTP) is data frameworks that encourage and oversee exchange situated applications, regularly for information passage and recovery exchange preparing. So online transaction is finished with the assistance of the web. It can't happen without a legitimate web connection.
Steps Involved in Online Transaction
- The customer needs to enroll online on a specific site to purchase a specific decent or administration.
- The client's email id, name, address, and different subtleties are spared and are sheltered with the site.
- For security reasons, the purchaser's 'Record' and his 'Shopping basket' is secret key ensured.
2] Placing an Order :
- At the point when a client enjoys an item or a help, he/she places the item in the 'shopping basket'.
- The shopping basket gves a record of the considerable number of things chose by the purchaser to be bought, the number of units or amount wanted to be purchased per thing chose and the cost for each thing.
- The purchaser at that point continues to the installment choice subsequent to choosing all the items.
3] Payment :
The purchaser at that point needs to choose the installment choice, he/she has different installment alternatives. These installment pages are made sure about with extremely elevated level encryptions so the individual budgetary data that you enter (bank/card subtleties) remain totally secure. A few manners by which you can make this installment are:
- Cash on Delivery : The Cash on Delivery choice lets the purchaser pay when he/she gets the item. Here, the... (More)
(i) Registration: Before online shopping, one has to register with the online vendor by filling-up a registration form. Registration means that you have an ‘account’ with the online vendor. Among various details that need to be filled in is a ‘password’ as the sections relating to your ‘account’, and ‘shopping cart’ are password protected. Otherwise, anyone can login using your name and shop in your name. This can put you in trouble. (ii) Placing an order: You can pick and drop the items in the shopping cart. Shopping cart is an online record of what you have picked up while browsing the online store. Just as in a physical store you can put in and take items out of your cart, likewise, you can do so even while shopping online. After being sure of what you want to buy, you can ‘checkout’ and choose your payment options. (iii) Payment mechanism: It is clear from Exhibit 5.1 that payment for the purchases through online shopping may be done in a number of ways: • Cash-on Delivery (CoD): As is clear from the name, payment for the goods ordered online may be made in cash at the time of physical delivery of goods. • Cheque: Alternatively, the online vendor may arrange for the pickup of the cheque from the customer’s end. Upon realisation, the delivery of goods may be made.(i) Registration: Before online shopping, one has to register with the online vendor by filling-up a registration form. Registration means that you have... (More)