Fundera
MAY 30, 2019
Many entrepreneurs feel overwhelmed by the thought of filing their small business taxes. If that’s how you feel, we don’t blame you since there’s a lot that goes into preparing your business for tax day. Even before the deadline for actually filing your tax return, there’s a lot of tax prep that you should ideally be doing throughout the year.
Abrigo
MAY 31, 2019
Last week, Sen. Thom Tillis (R-NC) introduced a bill, S. 1564 , calling for a delay in the implementation of the Financial Accounting Standards Board’s current expected credit loss (CECL) standard. The bill would delay CECL until a “quantitative impact study can be completed to understand its likely effects it will have on the economy.” While FASB pushed back the effective date for non-public business entities (PBEs) in October 2018, from fiscal years beginning after 12/15/2020 to 12/15/2021, FA
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Wellen Business Credit
MAY 28, 2019
Cashless payments are emerging in all areas of global commerce because of their safety and convenience. These cashless payments reduce the risk of cash handling and are compatible with several systems that make global transactions possible and traceable. They can take on several forms, from “primitive” credit and debit cards, and online transfers, to more technologically-forward mobile apps, mobile wallets, contactless cards, and RFID (among others).
GoCardless
MAY 19, 2019
We asked 400 borrowers who have taken out at least one personal loan within the last two years about a number of key aspects of their repayment experience, including preferred payment methods, important features and common reasons for missing a repayment.
Midwest Corporate Credit
MAY 21, 2019
We have another success story from a client who came to us just two years ago, he was able to increase his credit limit from $40,000 to $300,000. Source.
Credit & Management Systems, Inc.
MAY 14, 2019
Stop by and see us at booth 510 in the Expo Hall! Credit & Management Systems has been a proud exhibitor at the NACM Credit Congress since the inception of exhibits. We are 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 Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Abrigo
MAY 30, 2019
Whether you know a little or a lot about BSA/AML software automation, there are a few key elements to consider. First of all, what are the system’s capabilities? Second, what are some indicators of software that gets the job done? Many Compliance Officers and examiners agree that automation makes your BSA program more efficient. But it’s important to know what you’re looking for.
Fundera
MAY 12, 2019
What Is a Profit and Loss Statement? A profit and loss statement, also called an income statement, shows a business’s revenue, expenses, and net income over a specific period of time. It’s usually assessed quarterly and at the end of a business’s accounting year. Business owners use profit and loss statements to determine whether they should improve the bottom line by increasing revenues, cutting costs, or both.
Fundera
MAY 7, 2019
How to Sell on eBay: 5 Essential Steps. Choose between a personal and a business eBay account. If you’re using eBay to sell for your business, you’ll want to choose the latter. Register for an eBay business account. Fill out your basic business information using eBay’s online form and have access to your account in minutes. Set up your account preferences.
Fundera
MAY 4, 2019
Managing inventory is a key component of growing any business, but all too often, this ultra-important task is pushed to the side. Many business owners know the importance of a solid inventory strategy, but don’t know how to plan and jumpstart this vital process. Learning how to manage an inventory for the first time can be overwhelming, confusing, and time-consuming.
Fundera
MAY 8, 2019
The U.S. Census Bureau has announced that Hispanics now represent the most rapidly growing segment of the country’s economy. According to the U.S. Hispanic Chamber of Commerce, Latino-owned businesses have grown 31.6% since 2012, more than double the growth of all American businesses. With small business loans for Hispanics, as well as other economic opportunities, these business owners are getting more tools they need to run their businesses.
Fundera
MAY 17, 2019
How to Print Checks in QuickBooks. From the homepage, click the “Quick Create” icon (the + sign), select “Vendors,” and then “Check.” Fill out the check fields with the appropriate information, including the amount. Select the correct accounts to credit and debit. From there, click “Quick Create” > “Vendors” > “Print Check” to print your check.
Fundera
MAY 2, 2019
What Are Credit Card Processing Fees? At the most basic level, credit card processing fees are the cost that a business owner pays to accept credit card payments. However, there are several pieces involved in determining this overall cost, including transaction fees, flat fees, and incidental fees. Generally, the average credit card processing fees range from 1.7% to 3.5% per transaction.
Fundera
MAY 27, 2019
Expenses aren’t as fun to think about as sales, but they are an essential part of your business. Even if you are the sole proprietor of and only worker in a service-based business, you will still have business expenses. Unlike a W-2 employee who gets to keep their entire salary—less taxes, of course—you won’t be able to keep every dollar you earn in your business.
Fundera
MAY 23, 2019
What Is a Point of Sale System? A point of sale (POS) is a combination of software and hardware that a business owner needs to run transactions. The software typically encompasses a myriad of functions, including payment processing and staff, customer, and inventory management. The POS hardware includes an internet-enabled device that can run the POS software, plus transaction tools like a receipt printer and a cash drawer.
Abrigo
MAY 30, 2019
Taking the first step into automating your BSA program can be daunting. Helping hundreds of institution through this process has helped our team put together a few questions to help you navigate this journey. Can you check the box on your BSA software? 1. Am I doing too much manually? With the increasing expectations of BSA, a highly manual process can fall short.
Abrigo
MAY 29, 2019
For some people, going on vacation is a necessary break. For BSA professionals, it can be nothing but major stress. The compliance department is already one of the most understaffed areas of the institution and when staff turnover occurs or an employee goes on vacation or family leave, it can be cause for panic. What about seasonality with your alerts?
Abrigo
MAY 22, 2019
The U.S. Department of the Treasury recently published A Framework for OFAC Compliance Commitments to provide financial institutions and other organizations with OFAC’s perspective on the essential components of a sanctions program. Andrea M. Gacki, Director of the Office of Foreign Assets Control, stated that “OFAC developed this framework in our continuing effort to strengthen sanctions compliance practices across the board.
Abrigo
MAY 15, 2019
May 15 is National Senior Fraud Awareness Day , and while it is crucial to have a date to call attention to the nefarious actors that target the elderly, it is even more critical to make sure your institution is catching all forms of fraud that affect your customers or members, no matter their age. Your fraud detection software needs to use single- and multi-channel fraud detection to ensure certain types of fraud are not going undetected , costing your institution and customers/members hundreds
Fundera
MAY 23, 2019
More U.S. workers are quitting their jobs than ever before, according to numbers from the Bureau of Labor Statistics. Over 2% of the total working population (some 3.5 million people) voluntarily resigned from their jobs in October 2018 alone. With turnover rates increasing every year, businesses everywhere are being affected by the loss of top-performing employees.
Fundera
MAY 1, 2019
As a small business owner, you’ve probably had some hands in your business accounting, which means you’ve more than likely heard of QuickBooks. One of the most well-known accounting software on the market, QuickBooks services business owners in many different ways. In addition to their robust accounting solutions, QuickBooks also offers payroll services.
Fundera
MAY 2, 2019
What Is Cyber Liability Insurance? Cyber liability insurance covers the cost for a business to recover from a data breach, virus, or other cyberattack. It also covers legal claims resulting from the breach. Any business that stores sensitive data in the cloud or on an electronic device should have cyber liability insurance. According to the Identity Theft Resource Center, businesses experienced 571 breaches in 2018, exposing over 415 million employee and customer records.
Fundera
MAY 13, 2019
Best Free Payroll Software for Small Business. Payroll4Free can perform all essential payroll functions and is entirely free for businesses under 25 employees. HR.my provides some basic payroll functions and can accommodate an unlimited number of employees. Wave Payroll also provides customers with an accounting, invoicing, and expense management platform, but you will have to pay a small monthly fee to use it.
Fundera
MAY 26, 2019
1099 Form Definition. The 1099 form actually refers to a series of IRS tax forms that are used for reporting income other than the salary an individual makes as an employee. Specifically, the 1099-MISC form is the version of the IRS form 1099 that reports “miscellaneous income.” As a business owner, you’re responsible for completing 1099-MISC forms for any independent contractors you’ve worked with in the given tax year.
GoCardless
MAY 15, 2019
Delinquent loans are a constant concern for lenders of all sizes. If your level of loan delinquency becomes too high it can have serious negative effects on your business, including increased collection costs and reputational risk.
GoCardless
MAY 6, 2019
The fintech industry is booming, but the challenge for all ambitious fintechs is to scale consistently. Find out what the hidden challenges to scaling a fintech are and what you can do overcome them.
Fundera
MAY 29, 2019
You’ve hired a bookkeeper or engaged an independent firm to handle the accounting for your small business. Smart move! Now you can focus your time and energy on doing the things you do best to grow your business. Things are flowing along nicely with this arrangement… and then your tax accountant presents you with an adjusted trial balance. Now you’re starting to wonder why adjustments to your books are needed.
Fundera
MAY 27, 2019
The Lowdown on Square Fees. Square fees are contingent on three variables: The Square POS hardware you use, the Square POS software you use, and how you accept payment. The more you pay for your hardware and software, the lower your payment processing fees will be. But there is also a version of Square POS hardware and software you can use at no cost, meaning the only price you will pay is the payment processing fee.
Fundera
MAY 23, 2019
Generally accepted accounting principles—or GAAP (pronounced “gap”) for short—might not be at the front of your mind when you are running your business. After all, you have a lot to do, and you hired an accountant so you wouldn’t have to concern yourself with the nitty-gritty of your business’s accounting. Right? . Well, theoretically, yes. But knowing GAAP accounting principles—or at least the gist of them—will help you understand why your accountant does the things they do.
Fundera
MAY 14, 2019
What Is New Hire Paperwork? New hire paperwork consists of a variety of documents and forms that an employee must complete upon starting their employment with your business. The exact nature of this paperwork can vary, depending on state and local labor laws, as well as your specific business. There is, however, required federal new hire paperwork that you must have every employee complete, like the W-4 and I-9 forms.
Fundera
MAY 28, 2019
There are nearly 4 million small businesses in California, making the state a leader in entrepreneurship. A large percentage of California businesses are limited liability companies (LLCs). LLC is a popular type of business entity structure among small business owners because it offers a combination of flexibility, legal protections, and tax advantages.
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