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Oh, dude, an estimate is like when your mechanic takes a wild guess at how much your car repair might cost, but a repair invoice is the cold hard truth of how much it actually ended up costing you. It's like the difference between your friend saying they'll pay you back and actually seeing that cash in your hand. So, basically, one is a hopeful prediction, and the other is the painful reality.
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Devin
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BeauAn estimate is presented before the fact: It is what they estimate it will cost. A repair invoice is presented after the fact. It is a list of what they did, and what the bottom line cost is to you. If you choose, you can ignore an estimate. You can't ignore a repair invoice.
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What is the difference between job costing and operating costing?
Job costing is when for example a tradesman comes to give you a quote for how much he is willing to do the job/repair that you want to be done, whereas Operating costs are what a buisness has to spend in order to keep functioning, overheads ect.
What is the difference between direct and indirect expenses?
Direct Expenses are those costs directly related to the principal activity of the business. Examples include the raw materials used to manufacture a product and the labor costs associated with the work performed to produce the product. Indirect Expenses are those not directly related to the principal activity of the business. Examples include Sales activities, Research and Development activities, and Administrative activities. Simple example: An auto repair business. Direct Expenses would include parts purchased from a vendor to repair an automobile and the labor costs associated with the mechanic who performed the actual repair. Indirect Expenses would include the auto repair shop's advertising costs and the labor costs of the front office receptionist.
In Accounts payable repair of a computer is what coding?
Equipment Repair Expense
Does repair and maintenance have a debit or credit balance?
Repair and Maintenance would be an "expense" all expense maintain a debit balance.
How do you make entry of vehicle repairing?
[Debit] Repair expense xxxx (in case of minor repair) [Credit] Cash xxxx
