Abrigo

JULY 19, 2016

With the recent release of the Financial Accounting Standards Board’s (FASB) guidance on the Current Expected Credit Loss (CECL) model , Sageworks ' Summit is uniquely positioned to provide the latest information on how institutions can prepare for the changes and what the impact may be once effective. The 2016 Risk Management Summit features experts from the American Bankers Association, CliftonLarsonAllen, Crowe Horwath, Grant Thornton, KPMG, and Promontory Financial Group, among others.

CECL 90

CECL 90

Fundera

JULY 18, 2016

Deciding to start a business is an incredibly exciting moment, but for new entrepreneurs, that excitement is often accompanied by uncertainty, anxiety, and doubt. Many of these feelings stem from financial worries: not only do you have to worry about whether or not your business will be profitable in the medium- and long-term, but you also have to think about the cost of starting a business in the first place.

Deductions 76

Deductions Small Businesses 76

GoCardless

JULY 11, 2016

When it comes to cloud many firms are making the mistake of choosing software first and deciding what to do with it after. Find out how to create a clear strategy for your cloud proposition, ensuring it meets real business needs.

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52

Abrigo

JULY 29, 2016

When looking to interview candidates to grow your accounting or valuation firm, what is your greatest concern? Is it recruiting and managing the process? Facilitating a flow throughout the actual interview? Follow-up or determining the right questions for the interview? If asking questions is your challenge, you are not alone. During a recent Sageworks webinar, “Interviewer Do's and Don'ts for Finding the Right Candidate, ” more than half of webinar attendees indicated that their greatest concer

Accounting Firms 74

Accounting Firms 74

Abrigo

JULY 18, 2016

By Carl Streck, Co-founder and CEO, Mountainseed In a perfect world, an appraisal would land on your desk free of error. However, as we know, the world isn’t perfect, and as such, neither are appraisals. With the average appraiser completing between 220 and 240 appraisals per year, it’s only natural that mistakes happen. While finding mistakes can be tedious, including a mindful checklist in your appraisal process can help you be aware of some of the common mistakes you should be on the lookout

Credit Unions 68

Credit Unions 68

Fundera

JULY 29, 2016

The term “tax deadline” might send a shiver up some business owners’ backs… But it shouldn’t. Keeping on top of what you need to file—and when—will save you from costly IRS penalties. By setting alerts in your calendar to remind you of upcoming deadlines, you can make sure you’re on track and in good standing. We’ll take a look at 7 essential dates to save in your calendar, so that you can keep your financials organized during the fiscal year and save yourself from any unpleasant surprises

Deductions 75

Deductions Bad Debt 75

Fundera

JULY 13, 2016

It’s been just seven days since the launch of Pokémon Go , a game for iPhone and Android devices based on the hit Japanese TV show from the 1990s. In that short span of time, the game has exploded in popularity, beating out Facebook, Snapchat, and other applications for #1 in the App Store, with an estimated 21 million daily active users in the US alone.

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76

Fundera

JULY 7, 2016

Etsy, the online peer-to-peer marketplace that specializes in handmade and vintage products, has become the online leader for unique gifts, connecting millions of buyers and sellers for over a decade. The platform lets small-batch producers expose their wares to a global market instead of just the local community, and this opportunity is resonating with artists and crafters everywhere.

Transactions 75

Transactions Small Businesses 75

Fundera

JULY 11, 2016

Andy Hardie started Dave and Andy’s Homemade Ice Cream in Pittsburgh in 1983, right after graduating from college. 33 years later, his shop is still consistently voted Pittsburgh’s best ice cream. How did he come to start his own business? And how has he maintained such a loyal, local following over the years? “Keeping it in the family,” Andy sat down with his niece Annie—one of Fundera’s own Senior Account Managers, and answered a few of her questions on how he’s kept his ice cream shop thrivin

Small Businesses 75

Small Businesses 75

Fundera

JULY 22, 2016

Sometimes it’s the first thing people do when they start a small business. Sometimes it’s the last. Regardless of where you land on that spectrum, you’ll probably want (and need) to incorporate your business at some point. There are plenty of reasons—from tax benefits to asset protection—that make incorporating your business a profitable decision. But if you’re still hesitant to whether or not it’s actually necessary, here are 6 financial reasons you should consider incorporating sooner ra

Deductions 75

Deductions Credit and Collections Small Businesses 75

Fundera

JULY 28, 2016

Perhaps no segment of the blogging population is as nebulous—and popular—as the “mommy bloggers.” Writing about children, relationships, life in the suburbs, or even politics and culture fall into this category, and some choose to do it with humor and sarcasm rather than straightforward information. Since there are literally millions of women who identify as mommy bloggers (though only a few hundred are considered influential by other moms), the forms that the blogs can take are also diverse: S

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75

Fundera

JULY 22, 2016

Fundera receives compensation from American Express. This compensation impacts how and where its products appear on this site. Taking out a business credit card is a smart move for any small business owner. Whether you’re using your card to supplement your financing, act as a loan, or just to have in your back pocket, your business will benefit.

Small Businesses 75

Small Businesses Transactions 75

Fundera

JULY 15, 2016

After a storied career at Reebok, the sneaker company, as the Head of Brand Strategy, Marcus Wilson knew it was time for a change. “I’ve always had a passion for starting something. I didn’t know what that was… What product that was. But I wanted to be involved with something I could shape.”. Wilson had a great experience at Reebok, but as he says, ”So many people touch and shape a billion dollar company.

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75

Fundera

JULY 27, 2016

Do you use an email address from a free email provider—like AOL, Yahoo, Gmail, or your Internet provider—for business purposes? . If so, you could be delivering the wrong message about your small business every time you hit “Send.”. Sure, using a free email service is easy, convenient, and free. You’ve probably already have one or more free email addresses set up for personal use.

Small Businesses 75

Small Businesses 75

Fundera

JULY 29, 2016

There are plenty of reasons why you might want to take out a business credit card: you can simplify your bookkeeping, cushion your cash flow, and establish and improve your business credit, to name just a few. But if what you’re really attracted to are the rewards and perks that come with a credit card, we don’t blame you—they can be valuable for your business. .

Small Businesses 75

Small Businesses Transactions 75

Fundera

JULY 11, 2016

The Detroit Bus Company from Dark Rye on Vimeo. Back in 2012, after years of deliberation, the city of Detroit announced it was abandoning its plans for a light rail—a much-needed system that would have connected downtown to Detroit’s suburbs. What do you do when your city’s public transportation leaves you high and dry? If you’re Andy Didorosi, you build your own.

Small Businesses 75

Small Businesses 75

Fundera

JULY 7, 2016

Look around Main Street in your town. You’ll likely see a barber shop, pizza place, hardware store, coffee house, and more. These are the people in your neighborhood. They’re also typical Funding Circle borrowers. Launched in 2010 to help small businesses access funding and succeed, Funding Circle is now one of the nation’s leading marketplace lending platforms. .

Bankruptcy 74

Bankruptcy Small Businesses Credit Scoring 74

Fundera

JULY 14, 2016

Once you’ve decided that Funding Circle is the right lender for your small business and you’ve filled out the online loan application , it’s now time to wait for your information to be reviewed by an underwriter. During this next underwriting phase, the information you supplied in your application is looked at in more detail. Along with reviewing your financial documentation, an underwriter will take the time to learn more about you and your business goals.

Small Businesses 74

Small Businesses Default 74

Fundera

JULY 20, 2016

After submitting your online loan application with Funding Circle and moving through the underwriting process with the help of your personal account manager, it’s time to wait for your loan offer letter to arrive. This usually happens within a couple of days, or as soon as the lender has received and reviewed all of your information. When you do get your loan deal, you’ll also receive a phone call from your account manager.

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74

Fundera

JULY 12, 2016

Let’s imagine a common scenario: You opened your first pet supplies business two years ago. Business has been pretty good, and you’ve been sticking to your budget and making your startup loan payments. Then you decide to launch a new marketing campaign for an extra sales boost, and it’s effective—so effective that, suddenly, customer demand increases 80%.

Default 74

Default Credit Scoring 74

Fundera

JULY 25, 2016

Entrepreneur Stories: Brittney Castro from Kofa on Vimeo. As a female financial planner under 30, Brittney Castro belongs to a demographic that makes up less than 1% of her industry. That hasn’t stopped her from forging her own path to success—one where morning yoga and meditation are as much a part of her workday as her duties as CEO. Brittney is the founder of Financially Wise Women, a Los Angeles-based financial advisory firm empowering women to take control of their money.

Small Businesses 74

Small Businesses 74

Fundera

JULY 26, 2016

What if you never had to worry again about a last-minute computer malfunction or a late payment from a customer again? If you find yourself often facing cash flow problems or worrying about surprise costs that you won’t have the cash to cover right away, a business line of credit could be the way to go. By opening a business line of credit early on, you can make sure you’ll always have access to cash to tide you over.

Credit Scoring 73

Credit Scoring Default Small Businesses 73

Fundera

JULY 20, 2016

The U.S. military, across all its branches, hosts thousands of active servicemen and women—and their families—in hundreds of bases, camps, and other installations at home and abroad. These bases require more than just basic housing: they also include all the goods and services that military families use in their daily lives, like retail stores and a variety of full- and quick-service restaurants.

Small Businesses 71

Small Businesses 71

Fundera

JULY 19, 2016

Ever have one of those frustrating moments when you can’t figure out how to do something in QuickBooks? You know it’s possible, you might’ve even done it before, but you just can’t get it to work today? Or maybe you know there must be a better way to do things, but you just don’t know what it is? The old adage is true—you just don’t know what you don’t know!

Deductions 71

Deductions Small Businesses 71

Fundera

JULY 19, 2016

Do you have any criminal activity in your past? No matter how long ago the activity was, having a criminal record can make it harder to get a small business loan. Before you seek financing, it’s important to understand how your past bad decisions can affect your chances of getting a loan. What Did You Do? Your situation will depend on whether you have a misdemeanor or felony on your record.

Small Businesses 71

Small Businesses 71

Fundera

JULY 1, 2016

People love cloud applications—and we should! They make our personal and professional lives more productive, efficient, and fun. But as we continue to leverage the cloud for tasks ranging from business critical to utterly useless, we’re finding ourselves over-subscribing to cloud services and—worst of all—looking at security as simply an afterthought.

Small Businesses 70

Small Businesses 70

Abrigo

JULY 27, 2016

All financial institution personnel play a role in the maintenance of positive asset quality through loan portfolio management, especially during periods of growth. The credit process inherently has risks. But as the OCC instructs examiners in its Comptroller’s Handbook, loan portfolio management is the process by which these inherent risks are managed and controlled.

Credit Risk 60

Credit Risk 60

Abrigo

JULY 25, 2016

For many people, trusting another party with their hard-earned money can be an anxiety-inducing experience. Whether it is securing funds in a checking or savings account, or investing in a retirement fund, many Americans need a sense of security that comes with an outstanding experience from their financial institution. Credit unions often prioritize providing that security blanket through a positive banking relationship.

Credit Unions 60

Credit Unions Bad Debt 60

Abrigo

JULY 22, 2016

Like the proverbial shoemaker’s barefoot children, CPAs and other professional services firms working nonstop to help businesses run more smoothly or profitably sometimes overlook their own need for new ideas to improve their practices. Continuing education requirements for licensure, client work, administrative tasks and “putting out fires” can routinely take priority over more generalized professional development.

Accounting Firms 60

Accounting Firms 60

Abrigo

JULY 14, 2016

When it comes to a merger of accounting firms, the process can depend on way more than the bottom-line financial terms of the deal, according to Philip J. Whitman, CPA, president and CEO of Whitman Business Advisors LLC. Indeed, many features of the firms involved will have an outsized impact on the key merger factors, such as compensation and governance.

Accounting Firms 60

Accounting Firms 60

Abrigo

JULY 13, 2016

How Loan Pricing Models Add Value to the Institution Implementing a loan pricing model often requires a process change for lenders and business development staff at the institution, and may necessitate a few extra steps. But if the institution evaluates the change bank-wide and the impact that a standardized pricing model could have, the rationale for implementation seems pretty convincing: 1.

Credit Unions 60

Credit Unions Credit Risk 60