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In this tutorial by E-Squared Photography, Erin and Emily aim to simplify the process of managing contracts and invoices for new photography business owners. They emphasize the importance of understanding these elements and guide viewers on how to effectively get them to clients. The video promises that by the end, viewers will gain a clearer understanding of invoices and contracts. They also recommend subscribing to their channel for more photography tips and tricks. One crucial piece of advice given is to open a separate checking and savings account for all business-related transactions, encouraging photographers to move away from using personal accounts.