Abrigo
MAY 15, 2020
Key Takeaways Like other federal relief programs, the PPP has become subject to fraud. The first federal charges of PPP loan fraud have been made – and they're unlikely to be the last. While the SBA has said lenders will be held harmless, some banks fear they will still be culpable if borrowers fail to comply with PPP criteria. Banks can take additional steps to bolster customer due diligence.
Fundera
MAY 10, 2020
The Top 5 Retail Accounting Software Solutions. QuickBooks Desktop: Best for brick-and-mortar retail shops. QuickBooks Online: Best for brick-and-mortar businesses with multiple locations. Xero: Best for online retail businesses. Zoho Books : Best for bundling retail accounting software with other business tools from the same provider. Wave: Best free accounting software for small retail businesses.
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Pactola
MAY 11, 2020
Since late February, our work lives have been similar to driving through a whiteout. All long-term plans have been thrown out the window and you are forced to focus on what is within the next 10 feet in front of you. The concern for performance in the next quarter has been replaced with wondering if you will get enough work completed to get at least 5-6 hours of sleep.
GoCardless
MAY 13, 2020
How the GoCardless team is experiencing Ramadan during the global lockdown.
Abrigo
MAY 13, 2020
Key Takeaways While lenders are still awaiting further guidance on PPP loan forgiveness, the SBA has stated that lenders will have to submit an SBA Form 1502 to report on PPP loans and collect processing fees. While an SBA Form 1502 exists for 7(a) loans, the SBA will make a specific Form 1502 for PPP loans, according to the final rule. Lenders must submit 1502 reports through Colson Services Corp.
Fundera
MAY 9, 2020
Today’s consumers are accustomed to near-instant communication—be it with friends, family, or even the companies with whom they do business. And, for their part, business owners have never had as many tools at their disposal to make quick communication a reality. What used to be a phone call or email is now an instant message or a query left on a social media account.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
GoCardless
MAY 15, 2020
Discover more about how to boost your SaaS company’s customer lifecycle.
Abrigo
MAY 13, 2020
Key Takeaways PPP required lenders to embrace digitalization at scale and vendors delivered The earliest PPP solutions were built upon existing solutions for SBA 7(a) A focus on the entire life cycle of the PPP loan is important in lender-vendor collaboration. The lightning-fast adoption of digitalization by financial institutions scrambling to get Paycheck Protection Program (PPP) loans into the hands of small business customers could represent a watershed for those that embrace their newfound
Fundera
MAY 14, 2020
IRS Form 8829. IRS Form 8829 is one of two ways to claim a home office deduction on your business taxes. Only self-employed people are eligible to claim this deduction. If your business qualifies for the home office deduction, you’ll file Form 8829 with your Schedule C, profit or loss from business. If you operate your business out of your home, there are a lot of expenses that come with that work environment, including utilities, upkeep, and rent. .
Abrigo
MAY 11, 2020
Key Takeaways The FFIEC issued a joint statement highlighting best practices for safe and sound use of cloud computing services. There are three main cloud service models, each with different levels of shared responsibilities between provider and client. There are several steps financial institutions can take to mitigate the risk. Cloud computing is an efficient and cost-effective way of housing data and is becoming a mainstay for data services and infrastructure across the globe.
Abrigo
MAY 11, 2020
Key Takeaways The coronavirus has propelled FIs and customers to embrace digital offerings Work from home schedules, sheltering in place, and urgent financial needs have changed customers' expectations of bank response times. The Paycheck Protection Program exposed the importance of digital offerings for customer retention and acquisition. One of the key values community financial institutions have always leaned into is their relationships with their customers, but these relationships have been
Abrigo
MAY 11, 2020
Key Takeaways FinCEN reissued Geographic Targeting Orders NYC and Miami were the original targets, but the newest order includes 12 other mentor areas. FIs should have procedures in place to monitor for red flags in these areas . On May 8, 2020, the Financial Crimes Enforcement Network (FinCEN) reissued their Geographic Targeting Orders (GTOs) to include the same 12 metropolitan areas issued in November 2019 (read here ).
Fundera
MAY 13, 2020
Top B2B Ecommerce Platforms. OpenCart B2B Marketplace. Magento Commerce. NetSuite. Shopify. OroCommerce. 3dcart. Today, ecommerce plays a larger role in sales than ever before. We’re beyond the age in which an online store is a nice addition to a physical presence. Now, selling online has become a necessity for just about every industry. This isn’t just for B2C sales, either.
Fundera
MAY 11, 2020
If you’re looking for a small business HR solution for your business, there are many things to consider. With all of the options out there, you’ll need to consider what your business needs most from the platform and how much you can afford to spend. When comparing your options, you’ve likely come across two popular products: Paychex and Zenefits. . In this Paychex vs.
Fundera
MAY 10, 2020
The beginning of the year is a busy time for any business when it comes to bookkeeping and tax requirements. One of many business accounting tasks you’ll need to complete is compiling and distributing W2 forms to your employees and 1099s to any contract employees. . Even if your business operates on a non-calendar fiscal year , you still have a number of reporting requirements to fulfill in January.
Fundera
MAY 14, 2020
What Is UltiPro Payroll? UltiPro Payroll is a cloud-based payroll service offered by the parent company Ultimate Software. UltiPro Payroll is customizable and automates the payroll of some of the nation’s largest brands, making it a great solution for larger-scale payroll needs. UltiPro is priced on a quote-based system that relies on which features you request and how many employees you have.
Fundera
MAY 13, 2020
What Is Patriot Payroll Software? Patriot Payroll is one of the most well-reviewed payroll software options on the market. Patriot offers two payroll plans: Basic Patriot Payroll, which costs $10 per month plus $4 per employee or contractor per month, and Full Service Patriot Payroll, which comes with full-service payroll taxes for $30 per month plus $4 per employee or contractor per month.
Fundera
MAY 12, 2020
What Is TriNet? TriNet is a professional employer organization that provides a range of services, including payroll processing. The payroll platform comes with tax administration and a robust employee portal. It works best when paired with TriNet’s other services, particularly benefits administration and expense and time tracking. TriNet provides small and medium-sized businesses with a wide range of workforce management solutions, including human resources and benefits administration, complian
GoCardless
MAY 15, 2020
What are alternative payment methods? Check out our definitive guide.
Fundera
MAY 15, 2020
5 Steps to Start Selling Online. Choose what products you want to sell. Decide where you want to start selling online. Choose an ecommerce platform. Set up your online store and establish your selling policies. Market your products and start fulfilling orders. Online sales continue to grow—increasingly making up a larger and larger piece of the U.S. retail market.
Fundera
MAY 13, 2020
Millions of small business owners, from independent contractors to the CEOs of small companies, have applied for Paycheck Protection Program loans over the last few weeks. Now, some of those business owners are considering returning their PPP loans, or hoping that their decision to take one of these loans does not constitute fraud. . The vast majority of business owners who will receive a PPP loan can make the argument that they needed it: Unemployment is at historic levels, demand is way down,
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