Purchase orders (PO) are essential for an accountant to help achieve financial goals and is one of the key Source Documents in Accounting. The buyer sends these orders to the vendor or sellers or suppliers, outlining what they expect for the order and when it should arrive. In contrast, a sales order generated by the supplier and sent to the buyer. Additionally, the supplier generates an invoice to show the buyer how much they owe for the purchased goods.
Benefits of Purchase Orders (PO)
Controlling the procurement of products and services from external suppliers is easier with purchase order.
The inventory process is more accessible with the help of PO. Once the supplier receives the PO, they will retrieve the items listed in the PO from their inventory.
The Purchase Order acts as a legal document that helps prevent future transaction disputes.
It prevent duplicate orders by keeping track of order and from whom, which can be challenging when a company decides to scale its business.
Overall, a well-organized purchase order system helps simplify the inventory and shipping process by keeping track of incoming orders.
The process of initiating a purchase order should begin with:
When a buyer needs goods, they start by creating a purchase requisition. This document helps to keep track of the items ordered and is sent to the purchasing department within the company. It also helps the company keep track of expenses. The acountant can only create purchase order once an authorized manager has approved the purchase requisition.
Once the buyer has confirmed the goods they wish to purchase, they will initiate a PO. This document will include the date of the order, FOB shipping information, discount terms, buyer and seller names, a description of the goods under process, item number, price, quantity, and the PO number as shown in the attachment.
The seller can accept or reject a PO with all the transaction and buyer’s requirements. If the seller agrees with the PO, it becomes a legally binding contract.
Keeping a record of the purchase order is crucial for buyers. The demand remains active until the company receive all or part of the goods.
Goods Receive Note (GRN) is issue after successful delivery from suppliers. Each order has an assigned unique number associated with the Purchase order number. The accountant can use this number to ensure that the goods received match those ordered and listed on the GRN.
Before company accountant make payment, they will verify that the Purchase order number matches the invoice. This ensures that the charges to pay by the buyer are the correct amount for the goods before processing the payment.
Fiverr.com is a great platform to sell your content and products if you want to earn extra money. It’s a popular freelance services marketplace that attracts clients from all over the world, both online and offline. Even though, evidence shows that many businesses use fiverr.com services to find skilled professionals. There’s a high demand for digital services globally, so you can offer a wide range of services on fiverr.com to increase your income. Also, among the several ways to make extra money on Fiverr, writing is one way to create high-quality offerings that stand out. Place your order today to help you write an article for $20.
22 Ways on How to Make Money on Fiverr
There are 22 ways to make money on Fiverr by selling your skills.
1.Human Resource Consulting
These consultants execute a wide variety of tasks, such as generating employee policies, recruiting and job coaching.
This kind of services can earn you over $1,000 in a single month.
Instead of producing a fresh work for every order, you can substitute to produce the book or report down.
Then continue to sell to different customers at different times. Also, it must clearly state that you reserve the copyright of the work.
3.Website Development
This is another way to earn big on Fiverr. Interestingly, E-commerce niche is among one of the greatly sought-after web development services on Fiverr.
Top sellers charge from $20 for a simple work to about $3,000 for a broader one.
Those you can write short and quick work get paid handsomely. If you a writer who can deliver 500 words in 30 minutes or less, you make about $10 per hour. However, the aim is to deliver a high-quality work and you will keep receiving order from buyers.
5.Marketing software.
You can promote your client’s site with several of traffic generation software. In addition, you can earn $50 to $100 for an hour.
6. Make digital drawings
You can earn large from using automated photo-based drawing tools to produce digital drawings. Also, buyers look for custom graphics-based drawings and are ready to pay.
7.NFT Artist
Sellers earn money producing art and sell the digital rights, in the form of non-fungible tokens, to collectors. However, top sellers earn as much as $1,000 to make NFT art collections.
8. Research
Seller earns money using Google for a research project. It is however, imperative that you make your research has focus and be able to turn out the research in a very short period of time.
9. Virtual assistant
This has to do with the country you live in, it is easier to make money selling an hour or two doing virtual assistant work for clients you find on Fiverr.
10. Adjust pictures
You can earn from adjusting pictures like using Photoshop to clear the background of a picture. Clients are constantly looking to get their picture background cropped off their pictures to enable then use those pictures online
11. Influencer Marketing
If you have numerous followers on social media, as a result of your participation, Then, turn this asset into earnings on Fiverr. Definitely, many businesses and individuals are eager to pay to enable them to advertise their brand on your social media channels. The price charge for this kind of service hinge on the number of followers on your platform or the conversions the buyer gets
12. Design business cards
Several firms and individuals are constantly in need of business cards, as a result there is no lack of demand for people with fairly simple graphics skills who are able to design business cards to earn money.
13. Social Media Marketing
This is among the fastest-growing sources of making money on Fiverr. Of course, this seller will be able to perform audience research, checking social media platforms and posting content to them, and campaign creation. In addition, you can earn between $50 to $2,000 per gig, depending on the tasks the buyer wants you to perform.
14. Take pictures with signs
You can earn money from Fiverr for taking a picture of you holding up a sign standing next to a landmark in your area.
15. Design flyers
You can design flyers and earn big off Fiverr. However, the desires for graphic design have improved exponentially.
16. Graphic Design
If know how to design logo, clothes or card, then Fiverr is the right place to sell your services. Starting prices for logo designer gigs is between the range from $5 to over $1,000
17. Become a reviewer
If you can review 500-word in less than 12 or 10 minutes, this can be a great gig to offer for the market. People are constantly in need of reviewing since consumers frequently buy products or services after reading to understand the review
18. Translation
Translator who can translate documents and other projects on Fiverr will be able to earn money. You can offer to teach people in their languages and also market their products in those own languages. Top-selling translators get up to $500 for a translating job.
19. Produce a video testimonial
If you are presentable and can speak talk in front of a camera professionally, then, you can offer to sell video testimonials.
20. Use software to create SEO diagnostic results
Buy and offer any of this software to diagnose how healthy a site is in terms of SEO. Most of the software packages are easier to operate, so you can earn good money from it.
21. Make use of a software to locate SEO keywords
Make a report that is full of SEO keyword will land you big earnings. There’s a enormous demand for this service
22. Copywriting
Lastly, copywriter who is able review products, business content, write blog posts and website landing pages or author books will earn big in Fiverr. A top-selling copywriter can earn as much as $900 to make a brand story.
Conclusion
In conclusion, several people ask how to make extra money on fiverr, even thought everyone has something to offer the global market where they can earn money. Also, you just need to start now on Fiverr and start spinning your spare time into spare money.
This blog discusses finance, educational issues, content creation and related matters. An expert in the field manages the blog. Ohimai Consulting
2. BUSINESS DAY
In 2001, a daily newspaper was founded in Lagos that now has a bureau in Accra, Ghana. https://businessday.ng/
3. NAIRAMETRICS
Ugochukwu Obi-chukwu, a chartered accountant with expertise in Accounting, Corporate Finance, Financial Management, and Personal Finance, established Nairametrics. https://nairametrics.com/
4. FINANCIAL NIGERIA
Financial Nigeria magazine is a monthly publication focuses on finance and development issues. The publisher offers news and policy analysis for Nigeria and other sub-Saharan African frontier markets. Femi Aribisala serves as the Chairman of the board. http://www.financialnigeria.com/
5. INVESTORS KING
Investors, King was established in 2010 by Samed Olukoya, a well-experienced global foreign exchange research analyst with expertise in economic policy, financial markets, startups, data analysis, and Python programming. https://investorsking.com/
6. FINANCIAL WATCH
Ezekiel Enejeta, a former banker, founded this organization focusing on recruitment and publications. https://www.financialwatchngr.com/
7. BUSINESS POST
Business Post is a rapidly expanding business/financial media outlet in Nigeria. It is managed by Dipo Olowookere, who previously worked on the Business Desks of several leading newspapers in Nigeria before joining Business Post. https://businesspost.ng/
Finance Ngr is a resource centre designed to cater to the banking requirements of individuals, with a particular focus on personal finance. This blog aims to aid business people, students, and even homemakers manage their finances effectively. – FinanceNGR
9. PROSHARE
Proshare brings depth to financial and technical analysis, investigate reports, broader reach and engages in ethical reporting. Founder/Ceo, Olufemi Awoyemi, is a 1988 graduate of Accounting and a Fellow of The Institute of Chartered Accountants of Nigeria (ICAN). https://www.proshareng.com/
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