Fundera

MARCH 16, 2019

The 8 Best Accounting Books for Small Business. Simple Numbers, Straight Talk, Big Profits by Greg Crabtree. Accounting for the Numberphobic by Dawn Fotopulos. Finance for Nonfinancial Managers by Gene Siciliano. The Accounting Game: Basic Accounting Fresh From the Lemonade Stand by Darrell Mullis. Profit First by Mike Michalowicz. The Tax and Legal Playbook: Game-Changing Solutions to Your Small-Business Questions by Mark J.

Small Businesses 106

Small Businesses Dashboards 106

GoCardless

MARCH 21, 2019

From developing your plan to handling objections – here's our seven step guide to increasing your fees, without losing important clients.

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Credit & Management Systems, Inc.

MARCH 27, 2019

Credit & Management Systems will be at the 123rd annual Credit Congress & Expo in Aurora, CO May 19-22, 2019. A proud exhibitor at the Credit Congress since the inception of exhibits, Credit & Management Systems is also a preferred provider of the NACM’s National Trade Credit Report (NTCR). This report data can be merged seamlessly into CMS Credit Suite, making your data investment work harder for you!

Credit and Collections 40

Credit and Collections 40

Fundera

MARCH 26, 2019

With the warmer weather of spring fast approaching, traveling is on more people’s minds. Compared to year-end travel, spring travel season is more unpredictable, especially for business owners and executives. Whether you’re attending an industry conference, meeting a client, or combining business and personal travel during the kids’ spring break, you’ll be glad to make your journey more efficient.

Credit and Collections 98

Credit and Collections 98

Fundera

MARCH 17, 2019

Every time tax season comes around, accountants are flooded with questions for advice on taxes, and in particular, payroll advice, tips, and tricks. Luckily, s mall business income taxes are fairly predictable from year to year. From an accountant’s perspective, a small business owner’s taxes follow a pattern of calculating, reporting, and paying that repeats on a set schedule.

Small Businesses 98

Small Businesses Deductions Credit and Collections 98

Fundera

MARCH 14, 2019

7 Steps to Eliminate Small Business Debt. Assess and rework your budget. Reduce expenses. Temporarily pay with cash (if you can). Communicate with creditors and lenders. Create a “target debt” or “stack” repayment plan. Increase your income. Hire a debt-restructuring firm. There may be no worse feeling than being crushed by debt of any kind. That feeling is heightened when you’re dealing with business debt, and you’re facing the possibility of losing your business altogether.

Small Businesses 92

Small Businesses Bankruptcy Credit and Collections Debt Collections 92

Fundera

MARCH 9, 2019

7 Reasons to Incorporate Your Business. Easier to raise capital. Allows you to issue stock options. Protects your personal assets. Easier to sell and transition. Saves on taxes. Easier to open a business bank account or credit card. Enjoy added credibility with customers. Most small business owners start out as sole proprietors. As a sole proprietor, there isn’t much distinction between you and your business.

Deductions 81

Deductions Credit and Collections Small Businesses 81

Fundera

MARCH 31, 2019

Whether you’ve been running your home-based business for a while or are just starting out, you may be wondering about incorporating your business. That is, forming an official legal business entity, such as a limited liability company (LLC), to help to project your business and personal assets. Even if you work alone and intend to keep your business small, there are still advantages to incorporating.

Law Firms 81

Law Firms 81

Fundera

MARCH 16, 2019

The 7 Best QuickBook Apps. TSheets Time Tracking. Expensify. Billbeez. Transaction Pro Importer. Bill.com. Webgility. Tax Planner Pro. QuickBooks is one of the most popular business accounting software options available with millions of customers because of its suite of abilities to track income and expenses, manage invoices and payments, and more. Despite its many features, customers still want integrations with other tools they use through the QuickBooks app marketplace.

Transactions 76

Transactions 76

Fundera

MARCH 9, 2019

A business budget template is one of the most important tools you can use to run your small business. Unfortunately, many small business owners skip this vital business management step. There are a lot of misconceptions about budgeting. It seems difficult and time-consuming. But with a good business budget template, the process can be much less daunting.

Small Businesses 75

Small Businesses 75

Fundera

MARCH 5, 2019

What’s the SBA Loan Timeline? The SBA loan timeline is about 60 to 90 days from initial application to release of funds. The exact timeline depends on the size of the loan, the length of the term, the purpose of the loan, and the experience of the lender. Gathering documentation is the most time-intensive part of the SBA loan process. If you’re a small business owner in search of financing, odds are that you’re hoping to get approved for a loan sooner rather than later.

Credit Scoring 75

Credit Scoring Small Businesses Default 75

Fundera

MARCH 11, 2019

How Large of a Business Loan Can You Get? How much of a business loan you can get is primarily a function of your business’s annual gross sales, existing debt, and creditworthiness. Most lenders won’t lend more than 10% to 30% of a business’s annual revenue. Your company should be cash flow positive after accounting for all debt payments.

Credit Scoring 75

Credit Scoring Credit and Collections Small Businesses Credit Card Payments 75

Fundera

MARCH 10, 2019

Are SBA Loans Personally Guaranteed? SBA loans require a personal guarantee from anyone who owns 20% or more of a business. When you sign a personal guarantee, you authorize the lender to seize any of your personal assets to repay the loan, if business assets aren’t sufficient to cover loan payments. Small Business Administration loans, or SBA loans , are some of the most best loan products out there for small business owners.

Credit and Collections 74

Credit and Collections Default Business Bankruptcy Small Businesses 74

Fundera

MARCH 22, 2019

Law firm accounting poses some unique challenges. Attorneys have many of the typical business accounting needs like billing, payroll, and accounts payable, but law firms must also be able to maintain and reconcile Interest on Lawyers Trust Accounts ( IOLTA ) and accurately track and bill time spent on client work, producing detailed invoices that are easy for clients to understand.

Law Firms 72

Law Firms 72

Fundera

MARCH 5, 2019

Recurring Payments Definition. Recurring payments are payments made to your small business in accordance with a predetermined schedule that you create. These types of payments are processed electronically, typically from a customer’s credit or debit card. Depending on who you use as your merchant or payment service provider, you can expect a special fee for setting up and processing recurring payments.

Credit and Collections 72

Credit and Collections Dashboards Transactions Credit Card Payments 72

Fundera

MARCH 10, 2019

The 3 Main Types of Intellectual Property Protection. Trademarks – Used to protect brand logos, company names, phrases, and symbols. Patents – Used to protect manufacturing or design processes. Copyrights – Used to protect original works, such as art, dances, or literature. Most entrepreneurs are very protective of their businesses.

Small Businesses 71

Small Businesses 71

Fundera

MARCH 11, 2019

8 Free QuickBooks Training Resources. The QBO Show. QuickBooks products videos. Fundamental QuickBooks video tutorials. Firm of the Future for QuickBooks certification. QBO Chat. QB Power Hour. The QuickBooks Vcon. Intuit QuickBooks Community support. QuickBooks training exists in many forms and fashions: From expensive QuickBooks certification courses to informal QuickBooks chats, your options are diverse and seemingly endless.

Accounting Firms 70

Accounting Firms Small Businesses Transactions 70

Fundera

MARCH 23, 2019

The Cost of Debt Formula. Cost of debt is the total amount of interest that a company pays over the full term of a loan. The cost of debt accounts for tax deductions that the company can claim on interest expenses. Business owners can use cost of debt to evaluate how a loan can increase profits. The most common cost of debt formula is: Cost of Debt = Interest Expense (1 – Tax Rate).

Deductions 69

Deductions Credit Scoring Small Businesses 69

Fundera

MARCH 16, 2019

APR vs. Interest Rate: What’s the Difference? When you take out a loan, your interest rate represents the interest percentage you will be charged for borrowing the money, but does not include origination fees, closing fees, documentation fees, and other finance charges. APR, on the other hand, gives you a more comprehensive look at how much you’ll pay when you borrow money for a loan by factoring in these costs and expressing the total price of borrowing money in terms of an interest rate.

Credit Card Payments 68

Credit Card Payments Credit Card Companies Small Businesses Default 68

Fundera

MARCH 11, 2019

What Is APR? APR is essentially the annual cost of borrowing. It differs from an interest rate in that it includes other fees associated with borrowing, such as origination fees and closing costs. There are multiple types of APRs, such as promotional APRs and variable and non-variable APRs. The lower the APR, the lower the cost of borrowing. Having a high credit score can help you get a low APR.

Credit Scoring 67

Credit Scoring Credit Card Companies Transactions Small Businesses 67

Fundera

MARCH 21, 2019

What Is a Small Business Loan Request Letter? A small business loan request letter is a letter to a bank that supports your business loan application. It should include the amount of money you want to borrow and explain why you merit the loan, how you expect to use the loan, and how you plan to pay the bank back. If you’ve applied for a small business loan at a bank, you’re probably familiar with the need for a business loan request letter.

Small Businesses 65

Small Businesses Credit Scoring Credit Risk Default 65

Fundera

MARCH 13, 2019

Amortization Table: Definition. An amortization table is a data table that details the process of paying off a business loan. Specifically, the amortization table shows how much you are paying toward the principal and how much you are paying toward interest in each scheduled payment. The amortization table is essentially a visualization of the amortization schedule.

Credit Scoring 65

Credit Scoring Small Businesses 65

Fundera

MARCH 14, 2019

How to Maximize Profit. Leverage discounts. Maximize efficiency. Burden your expenses. Manage your cash flow. Grow responsibly. Profit maximization might be the most misunderstood concept in business. After all, doesn’t it make sense to increase sales as much as you possibly can? Won’t profitability automatically come with those increased sales? It seems counterintuitive, but the answer to that is actually no.

Small Businesses 63

Small Businesses 63

Fundera

MARCH 28, 2019

Equipment Lease vs. Finance: What’s the Difference? Equipment leasing and equipment finance differ mainly in terms of ownership. An equipment lease lets you rent business equipment from the vendor for a monthly payment, but you don’t own the equipment during the lease term. Equipment finance is a collateralized loan that allows you purchase a piece of equipment.

Default 62

Default Credit Scoring Small Businesses 62

Fundera

MARCH 13, 2019

QuickBooks questions—and the answers that follow them—can open up some pretty amazing features in your small business accounting software. Through face-to-face conversation with QuickBooks users—new and seasoned—we’ve compiled some common QuickBooks questions to ask—then answer. . With this article on 11 of the most common QuickBooks questions, we’ll answer the questions you have—and those you didn’t even knew you had.

Accounting Firms 62

Accounting Firms Transactions Small Businesses 62

Fundera

MARCH 3, 2019

Delinquent Loan Definition. A loan becomes delinquent as soon as you’re late on a payment, by even one day. If you miss several payments or can’t make payments for an extended time (usually 90 to 120 days), the lender will place the loan in default and can start collection proceedings against you. Both delinquencies and defaults damage your credit. The moments after you closed on your business loan are probably filled with memories of relief that the loan application process was over, and happin

Default 59

Default Collector Credit and Collections Credit Scoring 59

Fundera

MARCH 20, 2019

Ever heard your business accountant reference a “fiscal year?” Not sure about the fiscal year definition, or how it applies to your business? You’re in the right place. The accounting term fiscal year gets tossed around in business and applies to your business, no matter how big or small it is. That’s for good reason—your fiscal year marks the beginning of your annual financial records.

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Fundera

MARCH 30, 2019

What Is ISO 9001 Certification? ISO 9001 certification indicates a business’s ability to consistently provide products or services in accordance with a documented quality management system. The certifying body is the International Organization for Standardization (ISO), an international agency represented by more than 160 countries. Maybe you’ve already started a business and are looking to take it to the next level, or maybe you’re looking to streamline your costs.

Small Businesses 57

Small Businesses 57

Fundera

MARCH 9, 2019

Setting up payroll for small business seems easy, but there are a number of steps involved that growing small businesses need to be aware of. Missing one of these steps can lead to costly fines and penalties. That’s why we’ve created this easy-to-follow, nine-step guide on how to set up payroll for your small business. As you learn how to set up payroll, you should check with your accounting professional to make sure you are meeting all the requirements for your particular situation

Small Businesses 56

Small Businesses 56

Fundera

MARCH 9, 2019

How to Make a QuickBooks Journal Entry in 7 Steps. Select the + icon at the top right of the QuickBooks Online file. Navigate to Journal Entry under the Other column. Enter the transaction date in the date field. Enter the account to be debited and the account to be credited. Fill out a description as a reminder of what the transaction is. Continue adding debit and credit amounts until the entry is balanced, i.e. the difference between the debit column and the credit column is zero.

Transactions 55

Transactions 55

Fundera

MARCH 8, 2019

If you’re new to the world of small business funding , you might be disappointed to learn that no credit check financing on equipment is not a possibility. Virtually no lender will lend to a business without pulling the owner’s (or the business’s) credit score (At least, no lender you should work with ). But just because there aren’t no credit check equipment financing options, doesn’t mean you’re totally out of luck when it comes to finding the capital you need to purchase equipment and grow yo

Credit Scoring 55

Credit Scoring Small Businesses 55