Documentation is vital when lending money to people and businesses. A promissory note is an example of such documentation. It is a written promise by the debtor/borrower to pay back a specified amount and any applicable interest fees under defined terms of payment. Examples of payment terms include a predetermined deadline, interest rate, repayment schedule, and payment upon demand condition. …
Preparing and issuing receipts is an essential part of most businesses. As a business, you will need receipts to organize your financial records. They will help you identify the items you sold and the money you earned as payment from clients. On the other hand, customers will need it as it acts as proof of purchase or record-keeping That means …
A termination letter is a formal communication informing an individual or party that a business relationship, employment, contract, or agreement is being terminated. This letter can be written when dismissing an employee, canceling a lease, terminating an insurance policy, or ending a business contract between a client and contractor. It indicates why the agreement is being terminated, its effective date, …
The origin of job evaluation can be traced to the United States Civil Service Commission in 1871. However, it was not until the 1920s that the first point system was developed. In addition, the National War Labor Board advocated for the implementation of job evaluation to promote wage equality during World War II. Finally, in 1963, it was included in …
An essential aspect of any business that is crucial to the success of freelancers, self-employed individuals, contractors, and other businesses is the writing of bid proposals. Since drafting a proposal for a bid is difficult, you must distinguish yourself from the competition as a bidder by developing an attention-grabbing bid proposal. Statistically, contracting organizations respond to less than 70% of …
An event planning checklist is a list of tasks that need to be completed to plan and execute an event successfully. It is helpful when organizing and managing the various tasks and details that go into running a successful event. It helps to ensure that all necessary tasks are completed promptly and organized and that nothing is overlooked or forgotten. …
An employee performance evaluation, or simply a performance review, is a unique process designed to assess and review an employee’s professional performance. In most cases, managers are responsible for conducting employee performance evaluations. Even though every business determines its employee evaluation cycles, most conduct a complete performance evaluation annually, with several check-ins over the year. In addition, many companies conduct …
Peer evaluation is a process that enables you to give an honest assessment of your colleague’s performance. It is an activity carried out by one or more individuals who occupy jobs of the same level in an organization and belong to the same teams or departments. Peer evaluation is also done in schools by enabling children to assess each other’s …
A reference letter is typically written to vouch for an individual’s skills and expertise in a particular field. Traditionally, these letters were used for job and school applications. However, they can be used when applying for tenancy, loans, scholarships, visas, etc. Generally, the letter must be written by someone who knows the recommended person or their work well enough. Examples …
A sign-up sheet is an online or physical document that allows people to sign up for an event or activity. It also allows organizations to collect contact information about prospective clients to fine-tune their marketing strategies. The sign-up sheet can be used for infinite reasons, such as to gather information about participants, track attendance, or collect payments. A sign-up sheet …
Once the engagement phase is over, for most couples, the next step is to plan for their wedding. The only way a couple can prepare a gorgeous and outstanding wedding is to have a proper guide. This can easily be achieved by using a wedding to-do checklist. No matter the time frame, it is important for a couple to have …
A meal plan is a schedule of the meals a person eats over time, for example, weekly or monthly. A plan contains different meal options for breakfast, lunch, and dinner. The plans are made for various purposes, including maintaining diets or achieving nutritional goals for people trying to manage their health conditions. They are helpful for professionals like athletes who …
The first employee time clock, developed in the late 1800s, was used to record when an employee reached and left the factory. This mechanical time clock would stamp the day and time on a heavy paper card. The term ‘timesheet’ was therefore coined. It gives the factory owner an accurate record of each employee’s work hours. With advancements in technology, …
Name tags are used as identifiers for guests or attendees, and you often have to make them in large quantities when planning a party or event. You can make them for different events, from seminars and fundraisers to conferences. It can include the guests’ or attendees’ first and last names and, in some cases, the company name (if needed). They …
A gift tag can be described as a small piece of paper that is attached to the gift to identify its sender. It varies in size and shape. Also known as a label, it can be used to exchange greetings from the sender to the recipient. They are meant to create a good impression since they make the gifts more …
A termination letter is a formal communication informing an individual or party that a business relationship, employment, contract, or agreement is being terminated. This letter can be written when dismissing an employee, canceling a lease, terminating an insurance policy, or ending a business contract between a client and contractor. It indicates why the agreement is being terminated, its effective date, …