Fundera
MARCH 5, 2020
As a small business owner, you may not always have the resources available to hire a fully staffed HR department, especially when you’re just starting out. Luckily, if you’re looking for a way to streamline some of your HR processes, you can invest in an automated payroll service that will help you (or your team) manage essential payroll tasks—from setting up direct deposit to preparing your taxes. .
Abrigo
MARCH 27, 2020
Key Takeaways Three out of four bankers expect a recession will last at least two quarters Economic uncertainty has shifted questions regarding estimating the allowance for credit losses under CECL Managing troubled loans and liquidity top bankers' list of concerns. Although it’s still early, bankers have started to make their own assumptions about the impact the coronavirus pandemic will have on the economy and their institutions.
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Pactola
MARCH 23, 2020
We are hosting a free Webinar on Credit Management in the COVID-19 Virus. We will hold this on Thursday, March 26, 2020 at 10:30 CDT, 9:30 MDT. Our goal is to provide some ideas as you reach out to your borrowers in this challenging time. To attend, go at [link] The dial in number is 863-208-0120 and the attendee pin is 243 7669#. The COVID-19 virus situation has created a huge challenge for us, but this has also presented an opportunity we would not see in normal times for true leadership in ou
GoCardless
MARCH 10, 2020
A run down of the evening, the winners, and the last 12 months that got us here.
Fundera
MARCH 27, 2020
Thanks to a number of key factors, including a variety of technological advances, the past few years have seen a steady increase in the number of companies allowing their employees to work remotely. . In fact, over 3.7 million employees work from home at least half the time, and according to a 2018 survey conducted by Upwork , 63% of all companies employed remote workers.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Abrigo
MARCH 26, 2020
Key Takeaways The Fed will temporarily suspend exams for banks with less than $100 billion in assets. Banks over $100 billion in assets will have some exam activity deferred. The Fed extended time for existing remediation responses by 90 days. The Federal Reserve (Fed) announced on March 24 that they will temporarily suspend examinations for banks with less than $100 billion in assets so all can concentrate on the coronavirus pandemic, to “help financial institutions of all sizes understand the
Abrigo
MARCH 20, 2020
Key Takeaways For the first time in more than a decade, bankers may be dealing with large numbers of TDRs due to the coronavirus crisis. The FDIC recently reiterated that financial institutions should determine whether loans affected by COVID-19 should be reported as TDRs. A decision by FASB on TDRs and coronavirus modifications will be critical for lenders, given the implications for calculating the allowance for credit losses, or the allowance for loan and lease losses.
Abrigo
MARCH 18, 2020
Key Takeaways. There has been an uptick in phishing scams in Europe and North America related to the coronavirus. Assets available on the dark web include a real-time heatmap of COVID-19 cases. Educate your employees and stakeholders to stay protected. For cybercriminals, vulnerability and anxiety present opportunity. As the coronavirus (COVID-19) continues to spread around the world, cybercriminals are taking advantage of the widespread fear.
Abrigo
MARCH 4, 2020
With more and more states approving the sale of cannabis, either marijuana or hemp, the risks involved with banking this industry has remained at the forefront of compliance officers’ minds. Providing traditional banking services to any higher risk businesses carries risks that your financial institution may not be ready to tackle. Banking cannabis-related businesses (CRBs) will increase your institution’s risk profile, and you can expect an increase in visits from your regulators.
Abrigo
MARCH 4, 2020
With more and more states approving the sale of cannabis, either marijuana or hemp, the risks involved with banking this industry has remained at the forefront of compliance officers' minds. Providing traditional banking services to any higher risk businesses carries risks that must be considered when deciding whether or not to bank-specific customers.
Fundera
MARCH 28, 2020
We are currently living through unprecedented times as the spread of COVID-19 affects individuals and businesses across the globe. While most businesses, with the exception of essential industries, have shifted to working from home , it’s more important than ever to have an office cleaning checklist to keep employees who do have to go into work safe and healthy.
Fundera
MARCH 16, 2020
The coronavirus pandemic has sent U.S. small business confidence into a tailspin, as government restrictions force some main street businesses to close or operate in limited hours, while foot traffic for many has dropped to near zero. . The federal government has promised help in the form of business loans through the Small Business Administration’s loan programs , but details on how those programs will receive funding are still in development. .
Fundera
MARCH 29, 2020
It’s a good rule of thumb for every business to have some form of business insurance , no matter their industry or size. For some businesses though, especially those that work with other businesses or clients, they’ll need to provide proof of their coverage, known as a certificate of insurance (COI). . If you’re giving clients advice, working on their property, or even just providing them with a specific technology, they’ll want to know that you’re covered for any potential liabilities arising o
Fundera
MARCH 24, 2020
Many Americans from all walks of life are looking for guidance and help in the wake of the coronavirus outbreak. Small business owners in particular, whose entire lives and livelihoods have likely been upended due to the pandemic, need economic and logistical help during this time. . That’s because one in three small businesses don’t have a rainy day fund to help deal with emergency expenses , according to the U.S.
Fundera
MARCH 2, 2020
Adjusting Entries for Accounting Purposes. Adjusting entries are made at the end of the accounting period to make your financial statements more accurately reflect your income and expenses, usually—but not always—on an accrual basis. This can be at the end of the month or the end of the year. Adjusting entries usually fall into one of four categories: accruals, deferrals, depreciation and amortizations, and estimates.
Fundera
MARCH 25, 2020
Congress has hammered out the details of the third and largest coronavirus pandemic response bill to date. The $2 trillion coronavirus aid bill, (also known as HR 748/the “CARES” Act) provides economic support for a wide swath of Americans, small businesses, hospitals, and some struggling sectors of the economy. . The impact of the novel coronavirus on small businesses has been devastating, as many businesses have been forced to close or restrict their hours, and are unable to make e
Abrigo
MARCH 25, 2020
Key Takeaways Banking regulators say short-term, COVID-19-related loan modifications shouldn't automatically be categorized as TDRs. FASB affirmed this guidance for borrowers who were current prior to relief. The guidance makes it more palatable for institutions seeking to help borrowers affected by the coronavirus crisis. Regulators also announced other guidance tied to reporting and risk-based capital rules.
Abrigo
MARCH 24, 2020
Key Takeaways We can learn about potential fraud from previous cases such as Italy. Fraudsters capitalized on vulnerabilities from shifts in daily life due to coronavirus. Organizations must learn from the lessons learned in Italy to protect themselves from cybercrime. . Around the world, public health officials are analyzing the coronavirus (COVID-19) transmission in countries with earlier outbreaks in an effort to model scenarios, refine preparations, and identify mismanagement and best practi
Fundera
MARCH 9, 2020
What Is the Best Payroll Software for Small Business? Gusto offers the fullest packages for your small business payroll software—at the most reasonable price. QuickBooks Payroll is the best fit for business owners who use QuickBooks accounting software. Patriot Payroll is the best low-cost payroll software for small businesses. Payroll4Free is the best free payroll software.
Fundera
MARCH 31, 2020
The coronavirus outbreak has halted life as we know it, and rendered millions of businesses around the country inoperable and unprofitable. It has sent small business owners scrambling to review their insurance policies, to see if business interruption insurance will cover coronavirus-related losses. . Business interruption insurance or coverage, also known as business income insurance, is typically part of a larger business insurance package that includes property and liability coverage.
Fundera
MARCH 30, 2020
Oftentimes, entrepreneurs will start their own business after working in the industry for years, gaining experience and a network of contacts and potential clients to help launch their new venture. That wasn’t the case for Suits & Sandals. . This creative agency was started on the campus of SUNY Purchase by two friends with a few web design classes under their belt and a ton of ambition.
Fundera
MARCH 23, 2020
There are a lot of different steps that you have to follow when starting a business. While some of these steps are optional or can be put off until after you’re up and running, others are necessary before you can open your doors. . If you’re starting a retail business , you’ll need a retail business license to operate legally. Without it, you could face fines or penalties, depending on your state and local laws. .
Fundera
MARCH 23, 2020
Poynt Smart Terminal. Poynt’s flagship product, the Poynt Smart Terminal, is a credit card terminal with a lot of flexibility. It boasts a touch-screen and user-facing display, receipt printer, and the ability to accept magstripe, chip card, NFC, and QR code payments. There’s also a set of apps that can give your credit card terminal POS functionality.
Fundera
MARCH 22, 2020
For business owners, few things are more important than paying your employees on time and correctly. To help you stay on top of payroll, free up your time, and reduce the likelihood of error, you may want to consider payroll software. Payroll software automates the process of paying your employees. Plus, most systems also offer other HR-related tools, as well.
Fundera
MARCH 21, 2020
Weebly vs. Squarespace: Which Is Better for Your Business? Weebly is a great budget option for small business owners, as it allows newcomers to the ecommerce space to build a website quickly and at no cost whatsoever. Squarespace is best for businesses looking for a highly professional-looking website that can represent their brand well. Both Weebly and Squarespace are comparable when it comes to features and ecommerce tools.
Fundera
MARCH 21, 2020
As a small business owner, you likely offer your employees a number of fringe benefits , including vacation, or personal days, but you’ll also want to be aware of the different laws surrounding other types of time off, the rules of which are not up to you. . Depending on your location, your state might have paid family leave laws, paid sick leave laws, or both.
Fundera
MARCH 18, 2020
Paying your employees correctly and on time is one of the many essential tasks you have to manage to keep your business running smoothly. While this can be a time-consuming and even confusing undertaking, there are payroll services to automate the process for you. However, with so many options out there, you may not be sure which to choose for your business. .
Fundera
MARCH 14, 2020
A good HR software can make your life as a business owner significantly easier. Such software can help you automate your payroll, manage health benefits, file taxes, and more. If you’ve come across Gusto or Justworks in your search for the right HR solution, you may be wondering if either can serve your needs. . That’s where our Justworks vs. Gusto comparison comes in.
Fundera
MARCH 12, 2020
Gusto vs. Zenefits: Which Is Better? Gusto is an easy-to-use payroll software for small businesses that also offers add-on services for things like benefits administration and retirement planning. Zenefits is more of an HR platform that offers payroll as an add-on service. Zenefits is a cheaper option for very small businesses, but as your business scales, Gusto is more cost-efficient.
Fundera
MARCH 11, 2020
Paying business taxes as a freelancer can be confusing, especially if it’s your first time filing as a self-employed person. For starters, you’ll have additional forms to fill out and income to keep track of. . And then, there are freelancer tax deductions that you can take. What can you deduct and where do you deduct it? This guide walks you through some of the deductions you might qualify for, why they’re so valuable, and some tips for how to keep track of them. .
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